Los Angeles, September 15, 2009 – CB Richard Ellis Group, Inc (CBRE) today announced that Healthcare Trust of America, Inc. (the “REIT”), a self-managed, non-traded real estate investment trust, has awarded CBRE a management & leasing assignment.
CBRE is transitioning the management & leasing duties for the REIT’s Southeast Region, Northeast Region, Ohio, Colorado and Utah assets totaling nearly 1.9 million sq. ft. As the global leader in commercial real estate services, CBRE will be responsible for all day to day operations, lease negotiations, construction management, tenant relations as well as maintaining property performance.
CBRE manages nearly 40 million sq ft of healthcare and medical office properties while providing services to a broad range of physician tenants. Its healthcare clients include premier providers such as Baylor Health Care Systems, Cleveland Clinic, HCA and Clarian Health Systems.
“We are pleased that HTA has entrusted us with the management of their properties, and are looking forward to a long and mutually beneficial partnership,” said Andrew Genova, Senior Managing Director, Strategic Accounts at CBRE. “Our full-service Asset Services platform, integrated approach to strategic accounts, and specialty focus on health care properties, make us ideally positioned to serve this key client and to help HTA maximize portfolio performance.”
“This is a significant step in the new direction of our portfolio which will focus on property operations and efficiencies, tenant relations, and our growing relationships with leading hospital providers” said Christopher E. Balish, Senior Vice President – Asset Management for the REIT. “CBRE’s global standards and strong broker relations will bring added horsepower to our assets and will benefit our hospital partners, day in – day out”.
“Partnerships such as this will continue to leverage our internal resources and expand our access to new relationships and investment opportunities,” stated Mark Engstrom, Executive Vice President – Acquisitions for the REIT. “We will continue to be focused on direct communications with our hospital partners to meet their real estate and capital needs.”
The REIT’s investment strategy is to purchase quality properties that generate stable long-term growth in operating cash flow that allow us to pay regular cash distributions to our investors.
About CB Richard Ellis
CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services firm (in terms of 2008 revenue). The Company has approximately 30,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. CB Richard Ellis has been named a BusinessWeek 50 “best in class” company three years in a row and a Fortune 100 fastest growing company two years in a row. Please visit our Web site at www.cbre.com.
Healthcare Trust of America, Inc.
Healthcare Trust of America, Inc. is a publicly registered, non-traded real estate investment trust. The REIT has made 45 geographically diverse acquisitions valued at approximately $1 billion based on purchase price, which includes 138 buildings and one real estate-related asset, as of May 31, 2009. The REIT’s portfolio totals approximately 5.5 million square feet, and includes 119 medical office buildings, four hospitals, 12 skilled nursing and assisted living facilities and three other office buildings located in 19 states, including: Arizona, California, Colorado, Florida, Georgia, Indiana, Illinois, Kansas, Minnesota, Missouri, New Hampshire, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Virginia and Wisconsin.