Long-Term Fundamentals, Key for HTA Buy

LAS VEGAS-Healthcare Trust of America Inc., a self-managed, non-traded, real estate investment trust, has purchased an on-campus medical office building here for approximately $19.1 million. The San Martin Medical Arts Pavilion is a 73,300-square-foot multi-tenant medical office building that was completed in 2007 and is located on the San Martin Campus of St. Rose Dominican Hospital.

 “This transaction is HTA’s first acquisition in Las Vegas, Nevada, and is consistent with our strategy of targeting stabilized medical office buildings in markets with demographics that have attractive long-term fundamentals,” explains Mark Engstrom, executive vice president of acquisitions for HTA. “This is a significant opportunity to acquire an on-campus medical office building that is affiliated with a strong hospital and healthcare system.”