Publicly traded REIT purchased $123.8M portfolio of MOBs in Florida, Indiana
By John B. Mugford
The largest of the seven assets acquired by Healthcare Trust of America Inc. in late 2013 for a total of $123.8 million was the six-story, 150,716 square foot Largo Medical Center Medical Office Building in Largo, Fla., a suburb of Tampa, Fla. (Photo courtesy of HTA)
As 2013 came to a close, there was a reported lack of medical office building (MOB) portfolios on the sales block.
However, according to officials with Scottsdale, Ariz.-based Healthcare Trust of America Inc. (NYSE: HTA), the real estate investment trust (REIT) was able to find and acquire a portfolio of seven MOBs with 364,560 square feet of space. Officials say the deal was completed in an off-market transaction that, unlike numerous other deals in the marketplace, did not involve an auction-like bidding process.
HTA paid the seller, Boca Raton, Fla.-based The Greenfield Group, a longtime developer and owner of MOBs,
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