HTA acquires $8.14M medical office building in Stockbridge, Georgia

Jul 17 2010

Healthcare Trust of America, Inc. ("HTA"), a self-managed, non-traded, real estate investment trust, announced the acquisition of a medical office building located in Stockbridge, Georgia for approximately $8,140,000.

Overlook at Eagle's Landing is a 100% occupied medical office building that is located in the southern suburbs of Atlanta, Georgia in Henry County, the eleventh fastest growing county in the United States in 2009.  The medical office building opened in 2004 and is located less than one-half mile from Henry Medical Center, which recently completed a $60 million expansion. Henry Medical Center is a 215-bed not-for-profit community hospital with more than 400 physicians on staff and has served Henry County since 1979.

Overlook at Eagle's Landing is located at 290 Country Club Drive in Stockbridge and complements other existing HTA-owned medical office buildings in the area, including Southcrest Medical Plaza I and II in Stockbridge,  Marietta Health Park in Riverdale, Fayette Medical Office in Fayetteville, and 4000 Shakerag Hill Road in Peachtree City.  The continued growth in population in South Atlanta has resulted in the expansion healthcare services by Piedmont Healthcare and Henry Medical Center.

"This acquisition continues our Atlanta expansion focused in attractive sub-markets, bringing our total Atlanta portfolio to over a half million square feet while generating greater market presence for HTA with the region's healthcare providers," stated Mark D. Engstrom, Executive Vice President of Acquisitions for HTA.  "This acquisition is consistent with our strategy of targeting strong market demographics that have attractive long-term fundamentals."

SOURCE Healthcare Trust of America, Inc.