Healthcare Trust of America completes acquisition of a three building medical office portfolio

Jan 4 2010

Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the completed acquisition of a three building medical office portfolio located in San Angelo, Texas, Corsicana, Texas, and Fort Wayne, Indiana for approximately $20,500,000.

The approximately 92,500 square foot portfolio is 100% leased to community hospitals that are wholly-owned subsidiaries of Community Health Systems, Inc., a leading operator of general acute care hospitals based in Franklin, Tennessee. Through its subsidiaries, Community Health Systems, Inc. owns, operates or leases 122 hospitals in 29 states, with an aggregate of more than 18,000 licensed beds. The portfolio's original developer, Atlee Development, is selling the portfolio with long-term leases in place. Each of the properties are less than three years old. This acquisition brings HTA's investments in Texas to approximately $236 million in healthcare properties.

"This acquisition allows us to continue our growth in the states of Texas and Indiana where we have an existing presence. These assets are strategically located on-campus with long-term stable tenancy," stated Mark D. Engstrom, HTA's Executive Vice President of Acquisitions.

Since January 2009, HTA has acquired approximately $387 million in assets. These assets include a total of 30 individual properties, representing approximately 1.6 million square feet.