BOSTON — Scottsdale, Arizona-based Healthcare Trust of America (HTA) has purchased the 13-property Steward Portfolio, a medical office portfolio totaling 371,551 square feet, for $100 million. The properties are located on the campuses of the Steward Health Care network in the greater Boston metro area.
“The Steward Portfolio acquisition continues our investment strategy of acquiring quality on-campus medical office buildings with strong health care systems in a strategic market,” said Mark Engstrom, executive vice president of acquisitions for HTA, in a prepared statement.
“HTA is proud to continue working with one of the largest emerging integrated community-based healthcare systems in the Northeast.”
The portfolio is fully leased on a triple-net basis to Steward Health Care System, the largest fully integrated community care organization in New England, until 2024. Steward Health Care System is the third largest employer in Massachusetts with more than 17,000 employees serving more than 1 million patients in 85 communities.
Healthcare Trust of America is a fully integrated, self-administered, self-managed real estate investment trust. Since January, HTA has deployed approximately $214 million for high-quality medical office buildings. HTA’s portfolio is comprised of approximately 12.4 million square feet of space in 245 medical office buildings, 10 hospitals and nine skilled nursing and assisted living facilities in 26 states.
— Savannah Duncan