HTA agrees to a $48 million acquisition program for Medical Office properties

By Adam Lyons in : News // May 20 2010

SCOTTSDALE, AZ-Healthcare Trust of America Inc. has agreed to purchase $48 million worth of medical office properties in California, Georgia, South Carolina and Texas. The non-traded REIT expects to close on these acquisitions this quarter.

HTA announced the buys as part of its first quarter 2010 financial results. Specifically, the assets slated for acquisition include medical office building portfolios in Hilton Head, S.C., Charleston, S.C. and Lewisville, TX, along with medical office buildings in Stockbridge, GA, Pearland, TX and San Luis Obispo, CA.

Since January 1, 2010, HTA has acquired about $184.5 million in medical office and healthcare-related assets including nine acquisitions totaling roughly 864,000 square feet. Since its inception, the REIT has made 62 geographically-diverse acquisitions totaling $1.6 billion, which includes 194 buildings and two other real estate-related assets.

Peters tells GlobeSt. that HTA is able to continue its aggressive acquisition activity due to its relationships, both off market and through traditional brokers, and with healthcare systems.