Signs Most New Leases in Company's History as
Leased Rate Increases on a Sequential Basis
Leading Proxy Advisory Firm ISS Recognizes the
Inherent Value in the Transaction with HR
SCOTTSDALE, Ariz., July 5, 2022
/PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE: HTA)
("HTA") reported that during the second quarter the Company signed
its highest level of new leases, approximately 283,000 square feet,
since going public in 2012. The Company also signed approximately
550,000 square feet of renewal leases. As a result of HTA's strong
performance, total portfolio leased rate increased by 0.3% since Q1
2022, and the Company ended the period at 89.6%.
HTA's new leasing spans across the entire portfolio, with more
than 90 leases signed at an average of approximately 3,000 square
feet per lease. The Company achieved more than 10,000 square feet
of leasing in 10 of its key markets, and more than 5,000 square
feet in 17 of those markets. Preliminary re-leasing spreads for the
quarter are expected to range from 3% to 4%, and leasing
concessions are anticipated to be consistent with the Company's
recent performance.
"Over the past year, the HTA team has worked to refine and
implement our strategic growth plan, and these strong results are a
testament to that and underscore the potential for further growth
as we build on this momentum," stated Peter
N. Foss, CEO. "I am proud of all that our team has
accomplished and thank them for their hard work and commitment to
unlocking the value of our portfolio. As we work to complete our
pending merger with Healthcare Realty Trust, we will continue
executing our strategy to drive future earnings growth and
shareholder value creation."
All results are preliminary and subject to final quarter-end
closing procedures. Additional details will be provided when
HTA files its second quarter financial results. In light of its
pending merger transaction with HR, HTA will not provide earnings
guidance for 2022.
ISS Recognizes the Inherent Value in the Transaction with
HR
The Company is pleased that leading independent proxy
advisory firm Institutional Shareholder Services, ("ISS"),
recommended that HTA stockholders vote "FOR" the proposed merger
with Healthcare Realty Trust Incorporated. As previously
announced, HTA's special meeting of stockholders will be held on
July 15, 2022. Subject to a
favorable shareholder vote, the merger is expected to close on
July 20, 2022.
About Healthcare Trust of America, Inc.
Healthcare
Trust of America, Inc. (NYSE: HTA) is the largest dedicated owner
and operator of medical office buildings in the United States, with assets comprising
approximately 26.0 million square feet of gross leasable area, and
with $7.8 billion invested primarily
in medical office buildings, as of March
31, 2022. HTA provides real estate infrastructure for
the integrated delivery of healthcare services in highly-desirable
locations. Investments are targeted to build critical mass in
20 to 25 leading gateway markets that generally have leading
university and medical institutions, which generally translates to
superior demographics, highly-educated graduates, intellectual
talent and job growth. The strategic markets HTA invests in
support a strong, long-term demand for quality medical office
space. HTA utilizes an integrated asset management platform
consisting of on-site leasing, property management, engineering and
building services, and development capabilities to create complete,
state of the art facilities in each market. We believe this
drives efficiencies, strong tenant and health system relationships,
and strategic partnerships that result in high levels of tenant
retention, rental growth and long-term value creation.
Headquartered in Scottsdale,
Arizona, HTA has developed a national brand with dedicated
relationships at the local level.
Founded in 2006 and listed on the New York Stock Exchange in 2012,
HTA has produced attractive returns for its stockholders that have
outperformed the US REIT index, since inception. More
information about HTA can be found on the Company's website
(www.htareit.com), Facebook, LinkedIn and Twitter.
Forward-Looking Language
This press release contains certain forward-looking statements
with respect to HTA. Forward-looking statements are statements that
are not descriptions of historical facts and include statements
regarding management's intentions, beliefs, expectations, plans or
predictions of the future, within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Because such
statements include risks, uncertainties and contingencies, actual
results may differ materially and in adverse ways from those
expressed or implied by such forward-looking statements. These
risks, uncertainties and contingencies include, without limitation,
the following: HTA's ability to consummate the merger (the
"Merger") with Healthcare Realty Trust Incorporated ("HR") on the
proposed terms or on the anticipated timeline, or at all, including
risks and uncertainties related to securing the necessary
stockholder approvals and satisfaction of other closing conditions
to consummate the Merger; the occurrence of any event, change or
other circumstance that could give rise to the termination of the
definitive merger agreement relating to the Merger; risks related
to diverting the attention of HTA and HR management from ongoing
business operations; failure to realize the expected benefits of
the Merger; significant transaction costs and/or unknown or
inestimable liabilities; risks associated with stockholder
litigation in connection with the Merger, including resulting
expense or delay; the risk that HTA's business will not be
integrated successfully or that such integration may be more
difficult, time-consuming or costly than expected; the ability to
obtain the expected financing to consummate the Merger; risks
related to future opportunities and plans for HTA, including the
uncertainty of expected future financial performance and results of
the combined company following completion of the Merger; effects
relating to the announcement of the proposed transaction or any
further announcements or the consummation of the Merger on the
market price of HTA's or HR's common stock; the possibility that,
if the combined company does not achieve the perceived benefits of
the Merger as rapidly or to the extent anticipated by financial
analysts or investors, the market price of HTA's common stock could
decline; general adverse economic and local real estate conditions;
changes in economic conditions generally and the real estate market
specifically; legislative and regulatory changes, including changes
to laws governing the taxation of REITs and changes to laws
governing the healthcare industry; the availability of capital;
changes in interest rates; competition in the real estate industry;
the supply and demand for operating properties in HTA's proposed
market areas; changes in accounting principles generally accepted
in the US; policies and guidelines applicable to REITs; the
availability of properties to acquire; the availability of
financing; pandemics and other health concerns, and the measures
intended to prevent their spread, including the currently ongoing
COVID-19 pandemic; and the potential material adverse effect these
matters may have on HTA's business, results of operations, cash
flows and financial condition. Additional information concerning
HTA and its business, including additional factors that could
materially and adversely affect HTA's financial results, include,
without limitation, the risks described under Part I, Item 1A –
Risk Factors, in HTA's 2021 Annual Report on Form 10-K and in HTA's
other filings with the Securities and Exchange Commission.
Contacts
Financial Contact:
Robert A. Milligan
Chief Financial Officer
P: 480.998.3478
Media Contact:
Andrew
Siegel / Joseph Sala
Joele Frank, Wilkinson Brimmer
Katcher
P: 212.355.4449
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SOURCE Healthcare Trust of America, Inc.