Medical Office Transactions: Healthcare Trust of America, Colliers International

Healthcare Trust of America Closes on $150 Million Medical Office Portfolio in California and Arizona 

Healthcare Trust of America, Inc. (NYSE: HTA) recently closed on a previously announced, $150 million medical office building portfolio in Southern California and Arizona.

The total consideration for the 11-building, 592,000-square-foot portfolio was about $253 per square foot.

The assets are 83% leased and are mainly located on Dignity Health campuses in Southern California and Phoenix.

With the purchase, HTA’s portfolio in Phoenix will increase to 1.3 million square feet, while its Southern California portfolio will jump to more than 700,000 square feet.

HTA plans to manage the portfolio in Phoenix with its existing property management and leasing platform. HTA will also open a new office in Southern California to manage and lease those buildings, generating “significant” synergies from leasing and property management, according to a press release.

Colliers Closes $60 Million MOB Portfolio Transaction in Rhode Island 

Colliers International’s Boston Capital Markets Group recently closed the $60.5 million sale of the Blackstone Valley Medical Office Portfolio, a 10-building 301,700-square-foot institutional-quality portfolio of suburban and urban Class A medical office buildings in Rhode Island, Commercial Property Executive reported.

Colliers represented the seller, Rhode Island-based real estate firm F.H. French Co. Inc., in the off-market deal. At the time of the sale, the portfolio was 98% leased to tenants like The Miriam Hospital, Kent County Hospital,  Lifespan Rhode Island, Coastal Medical, Anchor Medical and University Urological.

The buyer was Albany Road Real Estate Partners.

Executive Vice President Scott Dragos and Co-Chairman Kevin Phelan led the sales team, and they were helped by Executive Vice President Doug Jacoby, Assistant Vice President Tim Mulhall, Vice President Tony Hayes and Associate Dan Hines.

Marcus & Millichap Arranges Sale of MOB Portfolio in Dallas

Marcus & Millichap recently brokered the sale of Forest Green Office/Medical Complex, a four-building, 173,790-square-foot property in Dallas that was 82% leased at the time of the sale, REBusiness Online reported.

Michael Lawrence and Ron Hebert Marcus & Millichap represented the seller, an investment group headquartered in California.

The purchase price was undisclosed.

The Sanders Trust Buys Maryland MOB for $21 Million

Alabama-based health care real estate and development firm The Sanders Trust recently purchased the Class A, 71,000-square-foot Parkway Professional Center in Hagerstown, Maryland, for $21 million.

The Parkway Professional Center includes two properties. The acquisition extends the footprint of The Sanders Trust into its 22nd U.S. state.

National Asset Services Selected to Manage Seven MOBs Across the U.S.

National Asset Services (NAS) has been chosen to manage two medical office buildings in the St. Louis, Missouri, area, Commercial Property Executive reported.

Las Vegas-based commercial real estate investment firm KB Exchange Trust chose NAS as the property management company and asset manager for both buildings.

One of the buildings is a 7,700-square-foot asset occupied by one tenant, Fresenius Medical Care. The second building is 8,052 square feet and occupied solely by DaVita HealthCare Partners.

NAS was separately appointed property and asset manager for five additional newly built medical office buildings in Massachusetts, Texas, Pennsylvania and Ohio.

KB Exchange Trust gave NAS property management and asset management duties for these five single-tenant properties occupied by Fresenius Medical Care, Commercial Property Executive reported.

EDGE Realty Brokers Sale of Medical Office Building in Plano, Texas

EDGE Realty Capital Markets recently arranged the sale of the 21,246-square-foot Plano Orthopedic building in Plano, Texas, REBusiness Online reported. The purchase price was undisclosed.

EDGE’s John Mungioli, Wilson Stafford and Brandon Crow represented the seller, Orthopedic Network Ltd., in the deal. An affiliate of health care facilities developer Caddis acquired the building, which presently houses Plano Orthopedic & Sports Medicine Center Inc.

Written by Mary Kate Nelson