e are looking for in a healthcare portfolio," stated Mark D. Engstrom, Executive Vice President - Acquisitions. "The quality brand built by this hospital provider in their marketplace, the essential nature of these performing medical office assets to our growth strategy, the solid financial performance of GHS and the market driven economic structure of the transaction, each played a key role in our pursuit of this portfolio. Our company continues to demonstrate that we can execute and deploy our cash to acquire quality assets as they become available in this challenging market place. We are in a unique position, with our strong balance sheet, to be able to deploy our capital on acquisitions involving high quality performing assets, with high quality providers like GHS."
This transaction is consistent with the REIT's investment strategy, which is to purchase quality properties that generate stable long-term growth in operating cash flow to pay regular cash distributions.
About Grubb & Ellis Healthcare REIT, Inc.
Grubb & Ellis Healthcare REIT, Inc. (to be renamed Healthcare Trust of America, 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 billion based on purchase price, which includes 138 buildings and one real estate-related asset, as of May 31, 2009. The REIT's portfolio totals approximately 5.5 million square feet, and includes 119 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, Illinois, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Virginia and Wisconsin.
This press release contains
Page: 1 2 3 Related medicine news :1
|SOURCE Grubb & Ellis Healthcare REIT, Inc.|
Copyright©2009 PR Newswire.
All rights reserved
. Grubb & Ellis Healthcare REIT Increases Line of Credit With LaSalle Bank to $80 Million2
. Grubb & Ellis Healthcare REIT Acquires Chesterfield Rehabilitation Center in Chesterfield, Missouri in a Joint Venture with Duke Realty3
. Grubb & Ellis Healthcare REIT Acquires Park Place Office Park in Dayton, Ohio4
. Grubb & Ellis Healthcare REIT Acquires Medical Portfolio 15
. Grubb & Ellis Healthcare REIT Acquires Fort Road Medical Building in St. Paul, Minnesota6
. Grubb & Ellis Healthcare REIT Acquires Liberty Falls Medical Plaza in Liberty Township, Ohio7
. Grubb & Ellis Healthcare REIT Acquires Epler Parke Building B in Indianapolis8
. Grubb & Ellis Healthcare REIT Acquires Cypress Station Medical Office Building in Houston9
. Grubb & Ellis Healthcare REIT Acquires Vista Professional Center in Lakeland, Fla.10
. Aging Baby Boomers Will Drive Demand for Healthcare Properties Over Next Decade, Grubb & Ellis Report Reveals11
. Grubb & Ellis Healthcare REIT Names Danny Prosky Executive Vice President, Acquisitions