Healthcare Trust of America, a fully incorporated self-managed and self-administrated real estate venture trust, declared that it has completed a purchase and sale accord to buy two medical office buildings and a parking construction located in Phoenix, Arizona. The deal valued around $32,750,000 will be closed subject to a fulfillment of a number of considerations.
The Desert Ridge Medical Campus, for which the sale accord has been entered into, contain two class A type of three storeyed medical office buildings where a number of tenants are located and a two-floor parking structure. The medical campus measuring around 118,000 ft² is 88% occupied with a lease term of weighted average of around 6.15 years. The Medical Campus has two surgical facilities, which include Desert Ridge Outpatient Surgery, a joint venture of the hospital with Catholic Healthcare West.
The Campus is situated within the Desert Ridge Community, a master-planned housing community. The residential community houses the Desert Ridge Marketplace, an entertainment, dining and quality shopping place in Arizona and also holds more than 110 restaurants and retail outlets. Three other bigger hospital buildings such as the Mayo Clinic Hospital, Scottsdale Healthcare at Thompson Peak and John C. Lincoln at Deer Valley Campus are located close to the Desert Ridge Medical Campus.
Source: http://www.htareit.com/