HTA executes purchase and sale agreement to acquire five building medical office portfolio in Indiana

Feb 20 2010

Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the execution of a purchase and sale agreement to acquire a five building medical office portfolio located in Evansville, Indiana.  The closing of the acquisition is subject to the satisfaction of a number of conditions.

The approximately 260,500 square foot portfolio is 100% master-leased to the Deaconess Clinic which is a 'system-owned' group comprised of 110 primary care and specialty physicians.  The buildings are in essential locations for the Clinic and are either on or near a hospital campus.  The affiliated hospitals include Deaconess Hospital, a 365-bed acute care teaching hospital, and Deaconess Gateway Hospital, a new six story facility with 116 beds.  Deaconess Health System, the Clinic's parent company, carries an A+ rating from both Standard & Poor's and Fitch and is the largest health system in Southern Indiana.

“We are very excited about being selected and look forward to the opportunity to work with such a strong health system," stated Mark D. Engstrom, Executive Vice President of Acquisitions for HTA.  "This acquisition is a reflection of our strategy to acquire medical office buildings occupied by healthcare providers who are leaders in their local market."