News & Analysis: New name, same game


By John Mugford

Since moving to self-management in September and operating under its new name, Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) has not changed the way it goes about its business.

For the last four years or so, ever since the non-traded real estate investment trust (REIT) was founded as NNN Healthcare/Office REIT and was later known as Grubb & Ellis Healthcare REIT, it has been one of the most active buyers of medical office buildings (MOBs) in the sector.

The fact that HTA is remaining true to its aggressive roots is evidenced by its recent acquisition activities. The company has agreed to buy a 17-building, 641,000 square foot MOB portfolio right in its backyard of the Phoenix metro area. The agreed upon price is $107 million, or about $265 per square foot (PSF).

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