Healthcare Trust of America Secures $187 Million in Investments

SCOTTSDALE, Ariz. — On Sept. 13, Healthcare Trust of America (HTA) in Scottsdale — owner and operator of U.S. commercial health care buildings — announced major advancements in the company’s investments. The company closed on $187 million of building investments during the third quarter, including a $150 million acquisition of four buildings on the St. Joseph Health Mission Hospital campus in Orange County, Calif., part of the Providence Healthcare Network, according to a statement from Healthcare Finance.

This year, HTA has invested more than $600 million into commercial health care buildings. Their investments add up to almost two million square feet and 60 percent of their property is located on hospital campuses.

The $150 million acquisition will give HTA four multi-tenant medical office buildings totaling over 262,000 square feet in Mission Viejo, Calif. In a statement, HTA described Mission Viejo, Calif. and Orange County, Calif., as areas that are high in commercial property value and a strong university medical system that attracts highly skilled medical professionals.

The commercial medical buildings are leased by various medical practices affiliated with the Redmond, Wash.-based St. Joseph Health System, which features an investment grade A1 rating by Moody’s and an AA- rating by Fitch, according to a statement from Healthcare Finance.

St. Joseph Health, now part of Providence Health is the third largest health system in the United States, with 50 hospitals located on the West Coast.

When the $187 million transition is finalized, HTA will have invested over $200 million in and around Los Angeles. This is equivalent of representing over 465,000 commercial square feet. In a statement, the company said it now has enough critical mass to make this area one of its key markets.

In 2015, HTA invested a total of $190 million in the Boston, Charleston, S.C., Indianapolis and Raleigh, N.C. health care markets by purchasing a number of health care facilities including a biomedical research facility located on the joint campus of Boston Medical Center and Boston University Medical Center; a 40,000-square foot medical office building leased to the Medical University of South Carolina; and a 126,000-square-foot medical office building in Indianapolis that it leased to Community Health.