Healthcare Trust of America, Inc. Expands Property Management Platform with Addition of All Greater Atlanta Assets
SCOTTSDALE, Ariz., Dec. 17, 2012 /PRNewswire/ -- Healthcare Trust of America, Inc. ("HTA"), today announced the expansion of its internal property management platform to include 600,000 square feet of portfolio properties in the greater Atlanta market. The greater Atlanta portfolio is now directly managed by Healthcare Management of America, Inc., the company's management and leasing entity.
"Our dedicated property management platform is the next step in establishing HTA as the preferred landlord and owner for physicians in the markets where we operate," said Scott Peters, Chairman, Chief Executive Officer and President of HTA. "I'm pleased to report that after adding the Atlanta portfolio, we now internally manage nearly nine million square feet, or approximately 70 percent of our national portfolio. Direct property management is key to reducing costs and increasing scalability, which helps drive our growth and expansion strategy for the long-term benefit of our shareholders."
HTA's existing property management office on the south side of Atlanta houses eight employees dedicated to property management and engineering. To support the expansion of these services in the Southeast region, HTA will open a regional office in the north part of Atlanta to offer additional asset management, construction management and leasing capabilities. Newly appointed Southeast Regional Vice President Susan Dorr will oversee the management and leasing of all properties in the greater Atlanta region.
In addition to the Atlanta regional office, HTA has a Midwest regional office located in Indianapolis, IN. HTA's South - Southwest regional office is located in our corporate offices in Scottsdale, AZ.
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE: HTA), a publicly traded real estate investment trust, is a fully-integrated, leading owner of medical office buildings. HTA listed its shares on the New York Stock Exchange on June 6, 2012. HTA is a full-service real estate company focused on acquiring, owning and operating high-quality medical office buildings that are located on the campuses of nationally recognized healthcare systems in the major U.S. metropolitan areas. Since its formation in 2006, HTA has built a portfolio of properties that totals approximately $2.6 billion based on purchase price and is comprised of approximately 12.5 million square feet of gross leasable area located in 27 states.
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 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;
- delays in liquidating defaulted mortgage loan investments;
- 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 2011 Annual Report on Form 10-K for the year ended December 31, 2011 and its quarterly report on Form 10-Q for the quarter ended September 30, 2012.
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.
SOURCE Healthcare Trust of America, Inc.