An Arizona-based real estate company has followed its $64 million entry into Westchester’s medical office market last summer with the $28.8 million purchase of another West Harrison property at the close of the year.
Healthcare Trust of America Inc., a publicly traded real estate investment trust in Scottsdale, Ariz., in December closed on its purchase of 210 Westchester Ave., a medical office building leased by Westmed Medical Group PC. A spokeswoman for Westmed said the multispecialty group practice will remain a tenant there. Westmed this winter will open another medical office in the town of Harrison as sole occupant at 3030 Westchester Ave., a newly built 85,000-square-foot building in the recently renamed Purchase Professional Park.
The medical office building at 210 Westchester adjoins the Westchester Medical Campus, a five-building, 189,000-square-foot complex on 14 acres at 220-244 Westchester Ave. for which Healthcare Trust of America paid $64 million in the third quarter last year.
Mounting an aggressive East Coast acquisition campaign in 2014, the Arizona REIT last year acquired $440 million in medical office properties in eight states, including 21 medical office buildings and 1.2 million square feet of leasable space, according to the company.
Since its formation in 2006, Healthcare Trust of America has invested approximately $3.3 billion to build a portfolio of properties composed of approximately 14.8 million square feet of leasable area in 28 states. Its New York holdings, the largest of which are in Albany, include a medical office building on the MidHudson Regional Hospital of Westchester Medical Center campus in Poughkeepsie and the 90,000-square-foot Putnam Hospital Center in Carmel.