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Friday, May 14, 2010

Healthcare REIT Buys Pittsburgh Medical Building for $40.5M

Scottsdale, Arizona – Healthcare Trust of America, Inc., a self-managed, non-traded, Real Estate Investment Trust (REIT), announced the completed acquisition of the Federal North medical office building located in Pittsburgh, Pennsylvania for approximately $40,500,000.

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. This Commercial Real Estate Investment is a Class A Building, located near a 724-bed hospital, is 99 percent occupied.

Pittsburgh is the second largest city in Pennsylvania with a metropolitan area population of 2.5 million. With its diversified and balanced economy that emphasizes technology, world-renowned healthcare and outstanding universities, Pittsburgh was named by Forbes Magazine as its number one “Most Livable City” in May 2010, and The Economist magazine named Pittsburgh the number one city in the United States in June 2009. Pittsburgh looks like a good area for Multi-Family, Commercial Real Estate Investments and Net Lease Property Investments.
During the past decade, Pittsburgh has added approximately 4,000 jobs a year in the healthcare industry and is anchored by eight Fortune 500 companies.

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If you feel this is the right time to invest in Commercial Real Estate, Multi-Family Apartment Buildings, or Triple Net Lease Properties then contact us, HERE. We can also assist you with your Commercial Real Estate Mortgage and Net Lease Funding to purchase a new property.

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