SCOTTSDALE, AZ-- Healthcare Trust of America, Inc. (the "REIT"), a self-managed, non-traded, real estate investment trust, announced the execution of a Purchase and Sale Agreement (the "Agreement") to acquire a medical office building located in Englewood, Colorado for approximately $18,600,000.
The Hampden Place Medical Center is located within the Englewood City Center, a transit-oriented, mixed-use redevelopment district. Hampden Place is located near the Swedish Medical Center and was developed in conjunction with local physicians and the HCA HealthOne Hospital System. The new state-of-the art medical office building houses an ambulatory surgery center, medical imaging, physiotherapy and medical offices for orthopedic, hematology-oncology and related-physician practices. The Swedish Medical Center is one of the flagship hospitals for HCA HealthOne and includes 386 licensed beds and a Level I trauma center.
"We were attracted to this project for several reasons, including the quality of the tenants and the prime location of the building. The synergies amongst the services within this project really work together," stated Mark D. Engstrom, the REIT's executive vice president - acquisitions. "Key anchor tenants include both a Surgery Center and an Imaging Center. We also like the fundamentals of the Denver metropolitan market and are seeking opportunities to expand our presence there. This acquisition is consistent with the REIT's investment strategy, which is to purchase quality healthcare properties associated with strong providers that generate growth in operating cash flow."
AboutHealthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (formerly known as Grubb & Ellis Healthcare REIT, Inc.) is a self-managed, publicly registered, non-traded real estate investment trust. The REIT has made 45 geographically diverse acquisitions valued at approximately $1.2 billion based on purchase price, which includes 154 buildings and one real estate-related asset, as of October 31, 2009. The REIT's portfolio totals approximately 6.4 million square feet, and includes 135 medical office buildings, four hospitals, 12 skilled nursing and assisted living facilities and three other office buildings located in 19 states, including: Arizona, California, Colorado, Florida, Georgia, Indiana, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.
SOURCE Healthcare Trust of America, Inc.
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