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HTA Continues Acquisition Streak with $86M Buy

SCOTTSDALE, AZ-The REIT is under contract to acquire five on-campus medical office buildings for $86.1 million.

By Jennifer Duell Popovec | Updated on November 15, 2010

SCOTTSDALE, AZ-Healthcare Trust of America Inc. is under contract to acquire five on-campus medical office buildings for $86.1 million. The non-traded REIT has closed on three of the five class A buildings, paying $56.9 million, and plans to close on the other two by the end of the year.

HTA is buying the 307,000-square-foot portfolio from Rendina Cos., which developed the properties. The Jupiter, FL-based approached HTA directly about acquiring the portfolio, which is located in Arizona, Florida, Missouri, Nevada and New York.

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