Healthcare Trust of America buys Pittsburgh medical building for $40.5M
Healthcare Trust of America Inc., a Scottsdale-based real estate investment trust, has purchased the Federal North medical office building in Pittsburgh for about $40.5 million.
Federal North is a four-level medical office building comprising nearly 192,000 square feet. Included in the deal is a separate four-level, 525-space parking garage. The Class A building, located near a 724-bed hospital, is 99 percent occupied.
“This acquisition is consistent with our long-term strategy of acquiring high-quality medical office buildings in key markets which are affiliated with strong health care systems,” Mark Engstrom, HTA’s executive vice president of acquisitions, said in a prepared statement bad credit pay day loans.
Engstrom added that Federal North is the REIT’s 10th acquisition in 2010.