Healthcare Trust of America, Inc. Acquires Dallas Medical Office Building

Healthcare Trust of America, Inc. Acquires Dallas Medical Office Building

PR Newswire




SCOTTSDALE, Ariz., March 18, 2013 /PRNewswire/ — Healthcare Trust of America, Inc. (NYSE:HTA) (“HTA”) announced that on March 11, 2013, the Company acquired the Forest Park Tower (the “Tower”) in Dallas, Texas for approximately $48.7 million. The Tower is a 130,000 square foot class A medical office building built in 2010 and located on Forest Park Medical Center’s (“Forest Park“) – Dallas campus. The Tower represents the second high quality, on-campus medical office building that HTA has acquired from affiliates of Forest Park.

The Tower was 100% leased at closing, with a mix of Forest Park and individual physician tenancy. Forest Park is a leading health system consisting of physician-owned hospitals located throughout Texas. The Dallas campus is strategically located in the North Dallas medical community. Forest Park also operates a hospital in Frisco, Texas, and has several additional hospitals under development.

The acquisition was funded with proceeds raised through the Company’s equity at-the-market program raised in March.

“The acquisition of the Forest Park Tower is the type of high-quality, on-campus MOB in which HTA seeks to invest. It allows us to continue our expansion in the Dallas marketplace with a strong, existing health system that continues to grow and innovate,” stated Chairman and CEO Scott D. Peters. “Further, we were able to fund this transaction in a way that is accretive to existing shareholders and demonstrates our commitment to an investment grade balance sheet.”

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 12.6 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.

FORWARD-LOOKING LANGUAGE

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.

Financial Contact:
Kellie S. Pruitt
Chief Financial Officer
Healthcare Trust of America, Inc.
480.258.6637
kelliepruitt@htareit.com


SOURCE Healthcare Trust of America, Inc.

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