SCOTTSDALE, Ariz., March 14,
2022 /PRNewswire/ -- The Board of Directors of
Healthcare Trust of America, Inc. (NYSE:HTA), the largest dedicated
owner and operator of medical office buildings in the United States, on March 11, 2022 elected Reshma Block and Constance B. Moore as independent members of the
board. With the election of the two new directors the board
now consists of eight members, seven of whom are independent.
"We are pleased to welcome Reshma and Connie to our board. Each
of them has impressive skills, experience and diversity relevant to
our operations and the real estate industry," said W. Bradley Blair, II, Chairman of the Board. "Their
addition complements our board of directors' skills and
experiences, and we are confident they will provide valuable
perspectives as we continue to execute our strategy, drive
profitability and enhance value for all our shareholders. We look
forward to their contributions," Blair added.
Ms. Block is currently the Head of Technology and Innovation at
Tricon Residential Inc., which owns over 31,000 single-family and
multi-family rental homes across the
United States and Canada. She has more than 25 years
of strategic technology experience with startup, midsized and
Fortune 100 companies. Since 2010, Ms. Block has been the
principal consultant and founder of Compass Consulting, LLC, a
boutique consulting firm providing executive level management
consulting and program management. From 2008 to 2010 she was
the Chief Operating Officer of My Life Compass, an e-commerce
company. From 2006 to 2008 she was the Chief Operating
Officer of BioNovix, a life-science company, which provided
proprietary and patented nutraceuticals. From 1996 to 2006
Ms. Block was an information technology leader for Intel
Corporation, where she was the lead architect, engineer, and
manager of Intel's first Enterprise Backup and Recovery
Program. Ms. Block holds an M.B.A. degree from Pepperdine
Graziadio School of Business and a bachelor's degree from
California State Polytechnic University. She is an advisor
of the Audit and Compliance Committee of Hoag Hospital, Vice
President of the McCoy Rigby Arts Conservancy, the former Chair of
the Orange County Community Foundation, and former Board Chair of
the South Asian Helpline and Referral Agency.
Ms. Moore has more than 40 years of experience in the real
estate industry and extensive experience as a corporate director
and officer. She has served as a director of Civeo
Corporation since June 2014. She
served as a director of Columbia Property Trust, including as chair
of its board of directors in 2021, from November 2017 until it was acquired in
December 2021, and as a director of
Strive Communities, a private company, from January 2019 until it was acquired in
April 2021. She served as a
Director of BRE Properties, Inc. from September 2002 until BRE was acquired in
April 2014. Ms. Moore served as
President and Chief Executive Officer of BRE from January 2005 until April
2014, served as President and Chief Operating Officer from
January 2004 until December 2004 and served as Executive Vice
President & Chief Operating Officer from September 2002 to December
2003. Ms. Moore holds an M.B.A. from the Haas School of
Business at the University of California,
Berkeley, and a bachelor's degree from San Jose State University. In 2009, she
served as chair of National Association of REITS. Currently, she is
the Chair of the Fisher Center for Real Estate and Urban Economics
Policy Advisory Board at University of California, Berkeley, a Governor, and a Life Trustee of
the Urban Land Institute, Vice Chair of the board of Bridge Housing
Corporation, on the board of the Haas School of Business, and on
the board of the Tower Foundation at San Jose
State University.
About HTA
Healthcare Trust of America, Inc. (NYSE: HTA) is the largest
dedicated owner and operator of medical office buildings in
the United States, with assets
comprising approximately 26.1 million square feet of GLA, with
$7.8 billion invested primarily in
medical office buildings as of December 31,
2021. 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. HTA believes 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 (www.htareit.com), Facebook,
LinkedIn and Twitter.
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 as a result of the
phasing out of the London Inter-bank Offered Rate ("LIBOR")
effective June 30, 2023;
- 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.