September 9, 2016
Scottsdale, AZ-based Healthcare Trust of America, Inc. (HTA) acquired four medical office buildings located on the St. Joseph Health, Mission Hospital Campus in Mission Viejo, CA for $150 million. The facility is part of the Providence Healthcare Network.
The multi-tenant MOBs total more than 262,000 square feet leased by medical practices affiliated with St. Joseph Health System. The fee simple transaction carries no ground lease encumbrances.
HTA considers Southern California one of its key markets. It has invested roughly $200 million in the MSA, representing more than 465,000 square feet. So far this year, HTA has invested more than $600 million in medical office buildings totaling two million square feet, nearly 60% of which were located on-campus.
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RBB Architects Inc photo