REIT ACQUIRES DESERT RIDGE MEDICAL CAMPUS IN PHOENIX FOR $32.75 MILLION
By John Mugford
HTA’s latest acquisition, Desert Ridge Medical Campus in Phoenix, consists of two three-story medical office buildings and a two-level parking structure.
Photo courtesy of Ryan Cos.
After a hiatus of about three months without making an acquisition, Scottsdale-Ariz.-based Healthcare Trust of America Inc. (HTA) was back in buying mode in recent weeks.
The non-traded real estate investment trust (REIT), which has been a prolific buyer of healthcare facilities in recent years, announced that it has entered a purchase agreement to acquire the Desert Ridge Medical Campus in Phoenix for $32.75 million.
The complex includes two three-story, multi-tenant MOBs and a two-level parking structure. With a total of about 118,000 square feet, the Desert Ridge Medical Campus is about 88 percent occupied and has a weighted average remaining lease term of just more than six years.
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