GREENVILLE, S.C. — Healthcare Trust of America (HTA) has purchased a 16-property medical office portfolio from Greenville Hospital System (GHS) for $162.82 million. The portfolio comprises approximately 856,000 square feet of space located on three Greenville-area hospital campuses: Greenville Memorial Hospital, Patewood Memorial Hospital and Greer Memorial Hospital.
GHS, the largest healthcare provider in the Greenville area, was looking to free up liquidity with the sale while maintaining its presence in the market, so the company will be leasing back approximately 84 percent of the portfolio under a long-term agreement. HTA was selected in a competitive bidding process.
“This transaction was the best way to enter the South Carolina and Greenille markets, and we look forward to continuing to grow with the Greenville Hospital System as they expand,” says Mark Engstrom, chief investment officer with HTA.
HTA currently controls a portfolio of approximately 6.3 million square feet in 19 states. The company is active in the Southeast, with properties in Florida, Georgia, South Carolina and Tennessee.
“We seek out opportunities like this and will continue to look for opportunities to partner with strong hospital systems [like GHS],” Engstrom says.
— Coleman Wood