Healthcare Trust of America, Inc. Announces Redevelopment Of Medical Office Campus With WakeMed Health & Hospitals In Cary, NC
Healthcare Trust of America, Inc. Announces Redevelopment Of Medical Office Campus With WakeMed Health & Hospitals In Cary, NC |
[27-June-2018] |
SCOTTSDALE, Ariz., June 27, 2018 /PRNewswire/ -- Healthcare Trust of America, Inc. (NYSE: HTA) announced today that it would redevelop the Medical Park of Cary, its existing 90,000 square foot medical park located adjacent to WakeMed Health & Hospital's ("WakeMed") - Cary Hospital. As part of the redevelopment, HTA will build a new 125,000 square foot, Class A medical office building which will be anchored by WakeMed, a leading health system based in Raleigh, North Carolina, and utilized for physician offices and outpatient services. Following this development, the Medical Park of Cary will increase to approximately 170,000 square feet of medical office space, including buildings that will remain operational throughout construction.
"This expansion aligns with WakeMed's mission and our continued commitment to bring a broad range of needed and accessible health care resources closer to home; resources that will benefit patients and families for years to come," commented Tom Cavender, vice president of Facilities & Construction for WakeMed. "We look forward to getting underway on this project with the goal of providing a facility that is patient-centered and embraces a healing environment for our patients, families, staff and physicians." HTA's Chairman and CEO Scott D. Peters added, "We are excited to announce this redevelopment in partnership with WakeMed. The ability to transform our existing properties, which we acquired in 2010, into a state-of-the-art outpatient building creates value for all stakeholders, and furthers our strategy of investing in core, critical buildings in our key markets." Construction is expected to commence in the spring of 2019, with delivery by the beginning of 2021. Leasing and management of the property will be provided by HTA's internal management platform. Planning for Phase 2 of this redevelopment, which would bring the total project to up to 225,000 square feet, will begin prior to completion. About Healthcare Trust of America, Inc. (NYSE: HTA) Forward-Looking Language The forward-looking statements included in this press release are subject to numerous risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Assumptions relating to the foregoing involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond HTA's control. Although HTA believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, HTA's actual results and performance could differ materially and in adverse ways from those set forth in the forward-looking statements. Factors which could have a material adverse effect on HTA's operations and future prospects include, but are not limited to:
Forward-looking statements speak only as of the date made. Except as otherwise required by the federal securities laws, HTA undertakes no obligation to update any forward-looking statements to reflect the events or circumstances arising after the date as of which they are made. As a result of these risks and uncertainties, readers are cautioned not to place undue reliance on the forward-looking statements included in this press release or that may be made elsewhere from time to time by, or on behalf of, HTA. Financial Contact:
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Company Codes: NYSE:HTA |
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