Healthcare Trust of America, Inc. Announces $156 Million of Fourth Quarter Investments
SCOTTSDALE, Ariz., Jan. 2, 2014 /PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE: HTA) announced today that it had closed approximately $156 million of acquisitions in the fourth quarter of 2013. The fourth quarter acquisitions were highlighted by the agreement to acquire an eight medical office building (MOB) portfolio from a regional developer in Florida for $141 million, $127 million of which closed in December (the "Florida Portfolio"). The remaining fourth quarter acquisitions consist of the previously announced $29 million investments in two on-campus MOBs in Austin, Texas.
The Florida Portfolio totals over 414,000 square feet and was 98% occupied at closing. The MOBs are predominately located on health system campuses affiliated with HCA, Community Health Systems, and Jupiter Health System. Approximately 90% of the properties are located in Florida, principally in the markets of Tampa Bay and Jupiter, with one property in Indiana. Seven of the eight MOBs being acquired closed in December with the remaining property expected to close in the first quarter of 2014.
The Florida Portfolio is anchored by the Largo Medical Center MOB, a 151,000 square foot, Class-A MOB located in the Tampa submarket of Largo. It is located on HCA's Largo Medical Center campus and is anchored by the Diagnostic Clinic, an independent, multi-specialty clinic that was acquired by Blue Cross Blue Shield of Florida in 2012.
For the year, HTA closed on $398 million of investments. In total, HTA acquired 22 MOBs totaling almost 1.5 million square feet of gross leasable area (GLA). This represents a total portfolio expansion of over 15%, based on investment, for the year. Approximately 80% of the investments were made in the key states of Florida and Texas which demonstrate good fundamentals for long term healthcare demand. At year end, HTA had a total portfolio consisting of over 14.1 million square feet of GLA and $3.0 billion of investments. Additional details for these acquisitions can be found in HTA's portfolio overview found on its website (www.htareit.com).
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE: HTA), a publicly traded real estate investment trust, is a full-service real estate company focused on acquiring, owning and operating high-quality medical office buildings that are predominantly located on or aligned with campuses of nationally or regionally recognized healthcare systems in the U.S. Since its formation in 2006, HTA has invested approximately $3.0 billion to build a portfolio of properties that is comprised of approximately 14.1 million square feet of gross leasable area located in 27 states. It operates its properties through regional offices in Scottsdale, Charleston, Atlanta, and Indianapolis.
For more information on Healthcare Trust of America, Inc., please visit www.htareit.com.
This press release contains certain forward-looking statements. Forward-looking statements are based on current expectations, plans, estimates, assumptions and beliefs, including expectations, plans, estimates, assumptions and beliefs about HTA, stockholder value and earnings growth.
The forward-looking statements included in this press release are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond HTA's control. Although HTA believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, HTA's actual results and performance could differ materially and in adverse ways from those set forth in the forward-looking statements. Factors which could have a material adverse effect on HTA's operations and future prospects include, but are not limited to:
- changes in economic conditions affecting the healthcare property sector, the commercial real estate market and the credit market;
- competition for acquisition of medical office buildings and other facilities that serve the healthcare industry;
- economic fluctuations in certain states in which HTA's property investments are geographically concentrated;
- retention of HTA's senior management team;
- financial stability and solvency of HTA's tenants;
- supply and demand for operating properties in the market areas in which HTA operates;
- HTA's ability to acquire real properties, and to successfully operate those properties once acquired;
- changes in property taxes;
- legislative and regulatory changes, including changes to laws governing the taxation of REITs and changes to laws governing the healthcare industry;
- fluctuations in reimbursements from third party payors such as Medicare and Medicaid;
- changes in interest rates;
- the availability of capital and financing;
- restrictive covenants in HTA's credit facilities;
- changes in HTA's credit ratings;
- HTA's ability to remain qualified as a REIT; and
- the risk factors set forth in HTA's 2012 Annual Report on Form 10-K for the year ended December 31, 2012 and in HTA's Quarterly Reports on Form 10-Q.
Forward-looking statements speak only as of the date made. Except as otherwise required by the federal securities laws, HTA undertakes no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by, or on behalf of, HTA.
Kellie S. Pruitt
Chief Financial Officer
Healthcare Trust of America, Inc.
SOURCE Healthcare Trust of America, Inc.