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Healthcare Trust of America To Acquire Medical Office Building In Frisco, Texas

09/23/2013
Healthcare Trust of America, Inc. entered into definitive agreements to acquire a 91,000 square foot Class A, medical office building located in the Dallas suburb of Frisco, Texas for $28 million.

"We are happy to announce another acquisition of a class A, on-campus medical office building from affiliates of Forest Park Medical Center," stated Chairman and CEO Scott D. Peters. "Texas continues to be a focus area for HTA. The state's strong employment growth and a business friendly regulatory environment helps create a dynamic environment for healthcare providers and their associated real estate."

The Frisco MOB was built in 2012 and is attached to the Forest Park Medical Center – Frisco hospital. It was 100 percent leased at closing. This represents the third high-quality medical office building that HTA has acquired from affiliates of Forest Park, Healthcare Trust said.

With this transaction, HTA will have invested approximately $179 million thus far in 2013. This represents a 7 percent expansion of HTA's asset base for the year. It also increases HTA's Texas portfolio to over 1.7 million square feet, with approximately 700 thousand square feet in the Dallas metro area, company officials said.

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