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Healthcare Trust Closes $146M in Acquisitions

SCOTTSDALE, AZ-Healthcare Trust of America Inc. had a busy first quarter, acquiring 13 medical office buildings totaling 673,000 square feet for $146.3 million.

By Jennifer Duell Popovec | Updated on April 06, 2010

SCOTTSDALE, AZ-Healthcare Trust of America Inc. had a busy first quarter, acquiring 13 medical office buildings totaling 673,000 square feet for $146.3 million. The properties are located across the nation.

With the acquisition, the non-traded REIT now owns a portfolio totaling 8.1 million square feet of gross leasable area that is valued at approximately $1.61 billion. Roughly 70% of Healthcare Trust’s properties are located on or adjacent to a hospital campus. The portfolio is currently more than 90% leased.

The acquisitions were made as part of nine deals, according to a statement from the REIT. On average, the buildings have remaining lease terms of 10 years or more and occupancy rates of 98.5%. The newly acquired assets are occupied by credit tenants; 64% of the occupied space is leased by five major tenants with credit ratings ranging from A+ to AAA (Fitch).

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