SCOTTSDALE, Ariz., Sept. 21 /PRNewswire/ -- Healthcare Trust of America, Inc., (the "REIT"), a self-managed non-traded real estate investment trust, announced the completed acquisition of a 16-building portfolio from Greenville Hospital System ("GHS") based in Greenville, South Carolina for approximately $162,820,000 on September 18, 2009.
GHS is the dominant provider of healthcare services in South Carolina with approximately 70% of the market share in the largest Metropolitan Statistical Area in South Carolina. Approximately 92% of the portfolio's square footage is located on or adjacent to one of four hospital campuses, and GHS will continue to occupy approximately 84% of the portfolio under a long-term lease arrangement. GHS holds an "AA" credit rating from Fitch Ratings, a leading global rating agency.
"We are proud to have acquired these first class assets from a high quality healthcare system," said Scott D. Peters, chief executive officer and president of the REIT. "This strategic relationship will allow us the opportunity to develop and/or acquire additional medical buildings as Greenville expands its first class health system."
"This is a great accomplishment for HTA. For a transaction of this size and quality to be completed under our self-management structure is very gratifying," stated Mark D. Engstrom, Executive Vice President - Acquisitions.
This acquisition is consistent with the REIT's investment strategy is to purchase quality properties that generate stable long-term growth in operating cash flow to pay regular cash distributions.
About Healthcare 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
|SOURCE Healthcare Trust of America, Inc.|
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