Healthcare Trust of America has had a busy third quarter. In August, the firm acquired four medical office properties totaling 469,000 square feet and a total investment of $130 million, the REIT announced as part of its most recent businesses update. Year-to-date, HTA has acquired 625,000 square feet in medical office properties totaling $183 million.
The acquisitions will help HTA increase its densification in key markets, according to the firm. The four properties are Houston Medical Center MOB, Twelve Oaks MOB in Houston, Clint Moore Medical Facility in Boca Raton and Austin Bluffs MOB in Colorado Spring, and they have an estimated year-one yield of 5.7%.
Houston Medical Center is a 127,000-square-foot facility located within the Texas Medical Center, the world's largest medical complex totaling 50 million square feet and serving 10 million patients per year. Twelve Oaks MOB is a 140,000-square-foot facility near the Texas Medical Center on a campus with River Oaks Medical Center. Clint Moore Medical Facility is a 102,000-square-foot facility with 100% occupancy, and Austin Bluffs MOB is a 100,000-square-foot property near Denver.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.