SCOTTSDALE, Ariz., Nov. 2, 2020 /PRNewswire/ -- Healthcare
Trust of America, Inc. ("HTA") (NYSE: HTA) (the "Company"), the
largest dedicated owner and operator of medical office buildings in
the United States, announced today
the completion of a new 125,000 SF, Class A medical office building
located at 210 Ashville Avenue Cary,
NC. The new MOB is adjacent to WakeMed Cary Hospital, the
largest hospital in southwest Wake
County and one of three hospitals within the WakeMed Health
& Hospitals system. HTA demolished 45,000 sf of outdated
medical office space to build new MOB and parking structure.
Development information and time-lapse video of construction can be
found on website.
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The building is anchored by WakeMed, the leading health system
based in Raleigh, North Carolina,
and will be utilized for physician offices, outpatient services,
and an ambulatory surgery center. This development will become the
centerpiece of HTA's Medical Park of Cary and will increase the total footprint to
approximately 233,000 square feet of medical office space. The
building has 30,000 square feet of space available for lease and
will offer comfortable and adaptable space for additional
high-level specialists to meet the healthcare needs of the growing
Cary community.
The building was designed keeping environmentally friendly
options in the forefront, including energy efficient mechanical
systems and sustainability materials. Amenities include an inviting
courtyard for patient and employee comfort, a first floor bistro,
an abundance of natural light throughout lobby and common areas,
and three patient elevators intended to reduce wait time and
enhance patient and family access to needed services in the
building.
"This new development demonstrates HTA's unique ability and
capital to invest in areas with high growth potential," comments
Robert Milligan, Chief Financial
Officer for HTA. "Our team recognized the need for additional
medical office space near WakeMed Cary Hospital and provided both
the hospital and the surrounding community with a brand new state
of the art building."
Tom Cavender, Vice President of
Facilities and Construction for WakeMed, shared Robert Milligan's thoughts and further noted,
"The partnership that has been forged with HTA, from
conceptualizing the rebirth of Medical Park of Cary to the actualization of a new, patient
centered facility, has been outstanding - with both organizations
sharing a common goal of delivering exceptional patient care in
exceptional spaces."
The building will become HTA's 18th medical office building in
the Raleigh Metro area, bringing
total square feet owned and managed in the market to approximately
750,000 SF.
For more information on leasing or to schedule a tour contact
leasing@ htareit.com or (919) 439-2007.
About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. (NYSE: HTA) is the largest
dedicated owner and operator of MOBs in the United States, comprising approximately
24.9 million square feet of GLA, with $7.3
billion invested primarily in MOBs. HTA provides real
estate infrastructure for the integrated delivery of healthcare
services in highly-desirable locations. Investments are
targeted to build critical mass in 20 to 25 leading gateway markets
that generally have leading university and medical institutions,
which translates to superior demographics, high-quality graduates,
intellectual talent and job growth. The strategic markets HTA
invests in support a strong, long-term demand for quality medical
office space. HTA utilizes an integrated asset management
platform consisting of on-site leasing, property management,
engineering and building services, and development capabilities to
create complete, state of the art facilities in each market.
This drives efficiencies, strong tenant and health system
relationships, and strategic partnerships that result in high
levels of tenant retention, rental growth and long-term value
creation. Headquartered in Scottsdale, Arizona, HTA has developed a
national brand with dedicated relationships at the local level.
Founded in 2006 and listed on the New York Stock Exchange in
2012, HTA has produced attractive returns for its stockholders that
have outperformed the US REIT index. More information about
HTA can be found on the Company's Website, Facebook, LinkedIn and
Twitter.
About WakeMed Health & Hospitals
Serving the community since 1961, WakeMed is a not-for-profit
health care system founded and based in Raleigh, N.C. WakeMed exists to improve the
health and well-being of our community by providing outstanding and
compassionate care to all. WakeMed's 941-bed system comprises a
network of facilities throughout the Triangle area, including three
full-service hospitals, seven emergency departments, a dedicated
Children's Hospital and Rehabilitation Hospital, more than 80
physician offices and Wake
County's only Level I Trauma Center. WakeMed's
mission-driven team includes more than 9,800 employees, 1,500
volunteers and 1,300 affiliated physicians, along with the more
than 580 physicians and providers with WakeMed Physician Practices
– all representing the best minds and the biggest hearts and the
finest quality in health care and community health. For more
information, visit wakemed.org or follow WakeMed on Facebook,
Twitter and Instagram.
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 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:
- the Company's ability to effectively deploy proceeds of
offerings of securities;
- changes in economic conditions affecting the healthcare
property sector, the commercial real estate market and the credit
market;
- competition for acquisition and development of medical office
buildings and other facilities that serve the healthcare
industry;
- the Company's ability to acquire or develop real properties,
and to successfully operate those properties once acquired or
developed;
- pandemics and other health concerns, and the measures intended
to prevent their spread, including the currently ongoing COVID-19
pandemic;
- economic fluctuations in certain states in which the Company's
investments are geographically concentrated;
- financial stability and solvency of the Company's tenants,
including the ability and willingness of the Company's tenants or
borrowers to satisfy obligations under their respective contractual
arrangements with the Company and the potential inability of the
Company to enforce its rights under its leases during the pendency
of any pandemic;
- the ability and willingness of the Company's tenants to renew
their leases with the Company upon expiration of the leases or the
Company's ability to reposition its properties on the same or
better terms in the event of a nonrenewal or in the event the
Company exercises its right to replace an existing tenant;
- fluctuations in reimbursements from third party payors such as
Medicare and Medicaid;
- supply and demand for operating properties in the market areas
in which the Company operates;
- changes in operating expenses of the Company's properties
including, but not limited to, expenditures for property taxes,
property and liability insurance premiums, and utility rates;
- the Company's ability and the ability of its tenants to obtain
and maintain adequate property, liability and other insurance from
reputable, financial stable providers;
- restrictive covenants on certain of the Company's properties
subject to ground leases that may restrict or limit the uses of its
properties and the types of tenants the Company is able to lease
to, and the Company's ability to attract new tenants;
- the impact from damage to the Company's properties from, or
increased operating costs associated with, catastrophic weather and
other natural events and the physical effect of climate
change;
- retention of the Company's senior management team and its
ability to attract and retain qualified key personnel;
- legislative and regulatory changes, including changes to laws
governing the taxation of real estate investment trusts ("REITs")
and changes to laws governing the healthcare industry;
- changes in interest rates, including changes a as result of the
potential phasing out of the London Inter-bank Offered Rate
("LIBOR");
- the availability of capital and financing;
- restrictive covenants in the Company's credit facilities;
- changes in the Company's credit ratings;
- HTA's ability to remain qualified as a REIT;
- changes in accounting principles generally accepted in
the United States of America,
policies and guidelines applicable to REITs; and
- the risk factors set forth in HTA's most recent Annual Report
on Form 10-K and in HTA's most recent 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.
Financial Contact:
Robert A. Milligan
Chief Financial Officer
Healthcare Trust of America, Inc.
480.998.3478
RobertMilligan@htareit.com
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SOURCE Healthcare Trust of America, Inc.