The Real Deal Miami

Healthcare REIT acquires 428,000 sf in S. Florida

Trade of medical office space is swift on expected demand from federal Affordable Care Act

September 23, 2013 12:00PM

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Scott D. Peters

Scott D. Peters

Healthcare Trust of America, a publicly traded real estate investment trust, has acquired $63 million in medical office space throughout South Florida, a bright spot in the region’s otherwise sluggish commercial real estate market. Together, the properties, all situated on medical campuses, comprise 428,000 square feet, according to a release.

“These are the type of high-quality, on-campus MOBs that we believe will be core, critical real estate as healthcare continues to expand and evolve in this country,” chairman and chief executive Scott D. Peters said in the release.

“This is especially true in the South Florida market which continues to grow in population, remains a premier retirement destination, and will significantly benefit from the Affordable Care Act as it unfolds.”

The property in West Palm Beach is anchored by the Victor Farris Medical Office Building, a 153,000-square-foot, class-A medical office attached to the Good Samaritan Hospital.

The REIT also acquired the Palmetto Medical Plaza, a 135,000-square-foot, class-A medical office that is attached to the Palmetto General Hospital in Hialeah.

The remaining Florida properties total 140,000 square feet and include North Shore Medical Arts building, a multi-tenant medical office building attached to the North Shore Medical Center in Miami, and three properties on the Florida Medical Center campus in Fort Lauderdale. — Emily Schmall

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