HTA acquires Select Rehabilitation Hospital of Denton

Jan 3 2010

Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the completed acquisition of the Select Rehabilitation Hospital of Denton building located in Denton, Texas, for approximately $15,485,000.

The approximately 43,600 square foot rehabilitation hospital contains 44 private, licensed beds and is strategically located across the street from the Presbyterian Hospital of Denton which has 216 general acute beds. It is also immediately west of the future home of the Texas Oncology North Denton Cancer Center and Cook Children's Hospital. The building is 100% leased and occupied by Select Medical Corporation, a national healthcare corporation pursuant to a long term lease expiring in 2023. Select Medical currently operates 94 specialty hospitals and approximately 947 outpatient rehabilitation clinics. The Denton hospital opened in 2008 and is expandable to 60 licensed beds. This acquisition brings HTA's investments in Texas to over $223 million in healthcare properties.

"This acquisition is attractive for its proximity to a prominent hospital, strong demographics, modern state-of-the-art facility, and experienced operator-tenant," stated Mark D. Engstrom, HTA's Executive Vice President of Acquisitions. "This rehabilitation hospital acquisition advances our Texas portfolio with both a strong property and operator."

Since January 2009, HTA has acquired approximately $366 million in assets. These assets include a total of 27 individual properties, representing approximately 1.5 million square feet.

SOURCE Healthcare Trust of America, Inc.