HTA Invests $187M in Medical Office Assets
- Sep 21, 2016
Carlsbad, Calif.—The Healthcare Trust of America recently completed a slew of medical office acquisitions during the year’s third quarter. The company completed the purchases of four medical office buildings in Orange County, Calif., all of which are part of the Providence Healthcare Network, as well as three other facilities in Birmingham, Ala.
The four assets that were added to HTA’s portfolio are part of the St. Joseph Health – Mission Hospital Campus in Mission Viejo, Calif. The four assets total 262,000 square feet of medical office space in a high barrier-to-entry market in Orange County. The assets are leased out to practices that are affiliated to the St. Joseph Health System, part of the Washington-based Providence Health, the third largest system in the U.S.
The three medical office buildings in Alabama were acquired for $37 million. Bearing a total of 217,000 square feet of space, the assets are located on the Tenet Healthcare campus in Birmingham, Ala. Adding the three assets brings HTA’s holdings in the Birmingham MSA to 319,000 square feet of space, all of which are located on the Tenet campus. Healthcare Trust of America has completed acquisitions worth roughly $65 million in the metro.
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