Scottsdale REIT closes on $106M deal for two Boston medical office properties



Thomas Grillo
Real Estate Editor- Boston Business Journal

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Healthcare Trust of America closed on a deal to pay $106 million for a pair of prominent medical office buildings that are occupied by Tufts Medical Center in Boston.

The Scottsdale-based REIT acquired the 97,559-square-foot, 14-story lab building for $36.5 million and a 154,528-square-foot, 14-story medical office building for $69.6 million, according to public records.

Both properties are 100 percent leased by Tufts in Boston’s Chinatown neighborhood.

The sale, which closed late Thursday, made Boston the largest single market, based on dollars invested, within HTA’s property portfolio, the company said.

The buildings last traded hands in 2011 when a subsidiary of Gazit-Globe, an Israel-based owner and manager of commercial real estate, paid Daymark Realty Advisors Inc. $112 million to acquire the two facilities.



Article source: http://www.bizjournals.com/phoenix/news/2014/06/23/scottsdale-reit-closes-on-106m-deal-for-two-boston.html