Healthcare Trust of America, Inc. Executes Agreement to Acquire a Medical Office Portfolio in Hilton Head, SC
February 24, 2010
HILTON HEAD, SC – February 24, 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 three building medical office portfolio located in Hilton Head, SC for approximately $15,300,000. The closing of the acquisition is subject to the satisfaction of a number of conditions.
The approximately 53,700 square foot portfolio is located less than two miles from the Hilton Head Hospital. Two of the three buildings in the portfolio are currently 100% occupied, and 35% of the portfolio is occupied by Hilton Head Hospital. Hilton Head Hospital is wholly-owned by Tenet Healthcare Corporation (NYSE:THC) , and operates 93 acute licensed beds.
The acquisition of this portfolio capitalizes on a valuable opportunity to increase our presence in South Carolina, stated Mark D. Engstrom, Executive Vice President of Acquisitions for HTA. The acquisition also provides quality tenants and we look forward to further developing our relationship with Tenet Healthcare.
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. is a self-managed, publicly registered, non-traded, real estate investment trust. In 2009, HTA acquired approximately $494 million in medical office and healthcare-related assets. These assets include a total of 13 acquisitions and one other real estate-related asset, representing approximately 2.3 million square feet. Since its formation in 2006, HTA has made 53 geographically diverse acquisitions valued at approximately $1.46 billion based on purchase price, which includes 179 buildings and two other real estate-related assets. HTA’s portfolio totals approximately 7.4 million square feet, and includes 160 medical office buildings, six hospitals, nine skilled nursing and assisted living facilities and four other office buildings located in 21 states.
