HTA acquires Smyth Professional Building in Maryland

Dec 31 2009

Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the completed acquisition of a medical office building, known as the Smyth Professional Building, located in Baltimore, Maryland for approximately $11,250,000.

The approximately 62,000 square foot Smyth Professional Building is 98% leased, and is located on the campus of and is attached to Good Samaritan Hospital. Good Samaritan is a wholly owned subsidiary of MedStar Health, Inc., who, together with Johns Hopkins University, occupy approximately 61% of the building. MedStar Health is a not-for-profit health system, with a current A- rating from both Fitch and Standard and Poor's. MedStar Health, which has a total of approximately 3,100 licensed beds and approximately 5,000 affiliated physicians, operates nine hospitals throughout Baltimore, Washington D.C. and Montgomery County, Maryland. In addition to the existing building, HTA acquired certain development opportunities as part of the transaction.

"This acquisition provides HTA entry into a new geographic market with a very strong healthcare system," stated Mark D. Engstrom, HTA's Executive Vice President of Acquisitions.

Since January 2009, HTA has acquired over $371 million in assets. These assets include a total of 29 individual properties, representing approximately 1.6 million square feet.