BlackSwan Zine

An acquisitive Arizona-based real estate investment trust has struck a deal to buy one of Mount Pleasant’s biggest medical office buildings for $10 million. Healthcare Trust of America Inc. said last week that it has entered into an agreement to purchase the Medical Center at East Cooper, a 60,800-square-foot office complex near Bowman and Von Kolnitz roads and East Cooper Regional Medical Center.

Healthcare Trust of America, Inc. (”HTA”), a self-managed, non-traded, real estate investment trust, announced the execution of an agreement to acquire a medical office building located in Mount Pleasant, South Carolina, a suburb of Charleston, for approximately $10,000,000. In addition, HTA will incur certain acquisition related expenditures.

JAG Associates of Frederick has acquired the St. Agnes Healthcare Center in Catonsville for $10.4 million, according to Northmarq Capital, which represented the buyer. The 80,293-square-foot, two-story property, previously owned by Lord Baltimore Properties, was completely renovated with a new building skin.

Nationwide Health Properties Inc., a real estate investment trust (REIT) that invests in health care facilities, recently acquired five medical office buildings (MOBs) in California from Pacific Medical Buildings LLC. Pacific Medical specializes exclusively in the development and management of MOB, outpatient facilities and parking structures for hospitals, medical groups and universities.

Providence Alaska Medical Center on Wednesday announced plans for a $150.3 million expansion, including modernization and additions to its newborn intensive care and cardiac surgery areas. Providence executives said they will remodel 100,789 square feet of existing space and build a new 85,782-square-foot building.

The first new hospital in Hillsborough County in 30 years offers as much a cure for the area’s economy as it does for ailing patients. Nearly 500 workers have now been hired to staff St. Joseph’s Hospital-North. The jobs, providing the equivalent of about 450 full-time positions, pay on average $22-$23 an hour and carry with them a $24.4 million payroll in the first year of operation.

When it comes to occupancy levels, the medical office building sector has been faring a great deal better than the traditional office market, and Healthcare Trust of America Inc. is doing its level best to enhance its portfolio at a time when many office property owners are still sitting on the sidelines.

A new medical office building that incorporates the latest in surgical equipment, Internet technology and patient privacy is scheduled to open in March. The building’s design also is expected to give doctors’ more time with patients in exam rooms and at Jackson-Madison County General Hospital.

Jim Bowe, VP of Communications: Thank you for joining us today for Health Care REIT’s fourth quarter 2009 conference call.

A new high-rise is in the works for Bellevue’s emerging medical district. Healthcare Realty is developing a seven-story, 190,000 square-foot medical office building at the Overlake Hospital Medical Center campus on 116th Ave. NE.