Healthcare Trust of America, a Scottsdale, Ariz.-based real estate investment trust, announced it purchased four long-term acute-care hospitals operated by Select Medical Corp. for $102 million, according to a news release from Healthcare Trust. The seller or sellers of the hospital buildings were not identified by Healthcare Trust of America and could not be obtained by deadline.
Select Medical, a specialty hospital operator based in Mechanicsburg, Pa., has leases with an average remaining term of 11.5 years to operate the long-term acute-care hospitals. Two of them are in Florida, and the other two are in Georgia and Texas, according to the release.
This year, Healthcare Trust of America has bought about $660 million in medical office and healthcare-related assets, according to the release. The move follows an agreement in which another REIT, HCP, Long Beach, Calif., signed a definitive agreement to
purchase substantially all of the real estate assets of HCR ManorCare, a Toledo, Ohio-based skilled-nursing and post-acute-care provider, in a deal valued at $6.1 billion.
