SUGAR LAND, Texas – Scottsdale, Ariz.-based Healthcare Trust of America Inc. (HTA) recently closed on another MOB transaction, this one in the Houston suburbs.
The self-managed, non-traded real estate investment trust (REIT) closed on the purchase of the 60,300 square foot MOB for about $12.4 million, or about $206 per square foot (PSF).
The three-story, 100 percent occupied Sugar Land Medical Building II is located within a mile of three acute-care hospitals: Methodist Sugar Land Hospital, St. Luke’s Hospital, and Sugar Land Medical Center, which is part of Nashville, Tenn.-based HCA Inc.
More than 80 percent of the MOB is occupied by Texas Children’s Hospital, which has a credit rating of AA from both Standard & Poor’s and Fitch. The lease runs through 2019.
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