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SOURCE Healthcare Trust of America, Inc.
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.
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:
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.
Kellie S. Pruitt
Chief Financial Officer
Healthcare Trust of America, Inc.
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