SCOTTSDALE, Ariz., Nov. 13 /PRNewswire/ -- 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, known as the Smyth Professional Building, located in Baltimore, Maryland for approximately $11,250,000.
The 62,000 SF Smyth Professional Building, which is 98% leased, is located on the campus of and is attached to Good Samaritan Hospital. Good Samaritan is a wholly owned subsidiary of MedStar Health, Inc., who, together with Johns Hopkins University, occupies approximately 61% of the building. MedStar Health is a highly rated not-for-profit health system, with a current A- rating from both Fitch and Standard and Poor's. MedStar Health, which has a total of approximately 3,100 licensed beds and approximately 5,000 affiliated physicians, operates nine hospitals throughout Baltimore, Washington D.C. and Montgomery County, Maryland. The closing of the acquisition is subject to a number of conditions.
"This acquisition provides HTA entry into a new geographic market with a very strong healthcare system," stated Mark D. Engstrom, the REIT's Executive Vice President of Acquisitions. "In addition to the existing building, HTA will acquire certain development opportunities as part of the transaction."
For more information on Healthcare Trust of America, Inc. and to download the current prospectus, please visit www.htareit.com.
About Healthcare Trust of America, Inc.
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 $1.2 billion based on purchase price, which includes 154 buildings and one real estate-related asset, as of October
|SOURCE Healthcare Trust of America, Inc.|
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