Healthcare Trust of America, Inc. Executes Agreement to Acquire a Medical Office Portfolio in Hilton Head, SC
SCOTTSDALE, Ariz., Feb. 22 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.
This press release contains certain forward-looking statements with respect to the growth and value of HTA's portfolio and the value that the new portfolio adds to HTA. Forward-looking statements are statements that are not descriptions of historical facts and include statements regarding management's intentions, beliefs, expectations, plans or predictions of the future, within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward-looking statements. These risks, uncertainties and contingencies include, but are not limited to, the following: the acquisition of the portfolio may not be completed if the conditions to closing are not satisfied; the strength and financial condition of the portfolio; the strength and financial condition of the tenants; uncertainties relating to the local economy of Hilton Head, South Carolina; uncertainties relating to changes in general economic and real estate conditions; uncertainties regarding changes in the healthcare industry; uncertainties relating to the implementation of HTA's investment strategy; and other risk factors as outlined in HTA's prospectus, as amended from time to time, and as detailed from time to time in HTA's periodic reports, as filed with the Securities and Exchange Commission.
SOURCE Healthcare Trust of America, Inc.
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