Healthcare Trust of America, Inc. Executes Agreement to Acquire a 108,500 SF Medical Office Building Located in Spartanburg, South Carolina
November 13, 2009
SPARTANBURG, SC & SCOTTSDALE, AZ – Nov. 12, 2009 – Healthcare Trust of America, Inc. (the REIT), a self-managed, non-traded, real estate investment trust, announced the execution of a Purchase and Sale Agreement (the Agreement) to acquire a medical office building located in Spartanburg, South Carolina for approximately $16,250,000. The closing of the acquisition is subject to a number of conditions.
The approximate 108,500 SF Mary Black Medical Office Building is located on the campus of Mary Black Memorial Hospital and is attached to the hospital. Sixty-five percent of the 3-year old medical office building is leased on a long-term basis to the Mary Black Health System. The Mary Black Health System operates approximately 209 acute licensed beds and has approximately 386 active physicians on their medical staff. Mary Black Health System is part of the Community Health System in Brentwood, Tennessee.
This acquisition allows us to continue the growth we started in the South Carolina marketplace in September with a strategically located on-campus property that has significant tenant occupancy, stated Mark D. Engstrom, the REIT’s Executive Vice President of Acquisitions.
For more information on Healthcare Trust of America, Inc. and to download the current prospectus, please visit www.htareit.com.
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (formerly known as Grubb & Ellis Healthcare REIT, Inc.) is a self-managed, publicly registered, non-traded, real estate investment trust. The REIT has made 45 geographically diverse acquisitions valued at approximately $1.2 billion based on purchase price, which includes 154 buildings and one real estate-related asset, as of October 31, 2009. The REIT’s portfolio totals approximately 6.4 million square feet, and includes 137 medical office buildings, four hospitals, 9 skilled nursing and assisted living facilities and four other office buildings located in 19 states, including: Arizona, California, Colorado, Florida, Georgia, Indiana, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.
