Healthcare Trust of America, Inc. Executes Agreement to Acquire a Long-Term Acute Care Hospital Located in Dallas, Texas
December 03 2009 - 4:28PM
PR Newswire (US)
SCOTTSDALE, Ariz., Dec. 3 /PRNewswire/ -- Healthcare Trust of
America, Inc. ("HTA"), a self-managed, non-traded, real estate
investment trust, announced the execution of a purchase and sale
agreement to acquire a long-term acute care hospital ("LTACH"),
located in Dallas, Texas, for approximately $27,350,000. The
closing of the acquisition is subject to the satisfaction of a
number of conditions. The approximately 52,300 square foot LTACH
contains 60 private, licensed beds and is strategically located
between Presbyterian Hospital of Dallas and Medical City Dallas
Hospital, each located north of downtown Dallas in an area which is
considered the north central medical district. The LTACH is subject
to a long-term lease with Dallas LPACH LLC, a subsidiary of
RehabCare (NYSE: RHB). RehabCare is a national provider of
post-acute services, based in St. Louis, Missouri. RehabCare
manages rehabilitation programs in partnership with over 1,240
hospitals and skilled nursing facilities in 41 states, and owns and
operates 33 rehabilitation and long-term acute care hospitals. The
4-story LTACH was developed two years ago by the seller, which is a
partnership between local physicians and Gulf States Health
Services who are the Sellers. "This particular medical submarket
provides both solid real estate fundamentals and proximity to two
large, prominent hospitals in the heart of North Dallas' medical
center," stated Mark D. Engstrom, HTA's Executive Vice President of
Acquisitions. "Hospital proximity and a solid, experienced operator
are essential to sustaining volumes for these types of facilities."
For more information on Healthcare Trust of America, Inc. and to
download the current prospectus, please visit
http://www.htareit.com/. About Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. is a self-managed, publicly
registered, non-traded, real estate investment trust. HTA has made
45 geographically diverse acquisitions valued at approximately $1.6
billion based on purchase price, which includes 154 buildings and
two real estate-related assets, as of December 2, 2009. HTA's
portfolio totals approximately 6.4 million square feet, and
includes 137 medical office buildings, four hospitals, 9 skilled
nursing and assisted living facilities and four other office
buildings located in 20 states, including: Arizona, California,
Colorado, Florida, Georgia, Illinois, Indiana, Kansas, Minnesota,
Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, South
Carolina, Tennessee, Texas, Utah, Virginia and Wisconsin.
FORWARD-LOOKING LANGUAGE This press release contains certain
forward-looking statements with respect to the growth and value of
HTA's portfolio and the value that the LTACH adds to HTA.
Forward-looking statements are statements that are not descriptions
of historical facts and include statements regarding management's
intentions, beliefs, expectations, plans or predictions of the
future, within the meaning of Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended. Because such statements include risks,
uncertainties and contingencies, actual results may differ
materially from those expressed or implied by such forward-looking
statements. These risks, uncertainties and contingencies include,
but are not limited to, the following: the acquisition of the LTACH
may not be completed if the conditions to closing are not
satisfied; the strength and financial condition of the property;
the strength and financial condition of the tenants; uncertainties
relating to the local economy of the Dallas, Texas area;
uncertainties relating to changes in general economic and real
estate conditions; uncertainties regarding changes in the
healthcare industry; the uncertainties relating to the
implementation of HTA's investment strategy; and other risk factors
as outlined in HTA's prospectus, as amended from time to time, and
as detailed from time to time in HTA's periodic reports, as filed
with the Securities and Exchange Commission. DATASOURCE: Healthcare
Trust of America, Inc. CONTACT: Acquisitions, Mark D. Engstrom, EVP
- Acquisitions of Healthcare Trust of America, Inc.,
+1-480-998-3478, ; or Media, Claire Koeneman, President of
Financial Relations Board, +1-312-640-6745, , for Healthcare Trust
of America, Inc. Web Site: http://www.htareit.com/
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