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Healthcare Trust of America has agreed to buy out Duke Realty Corp.’s entire medical office portfolio for $2.75B.
The sale values the portfolio at $450/SF and transfers ownership of 78 properties in various stages of occupancy — 64 stable properties and 14 either in the lease-up stage or under construction, CoStar reports. The deal covers 6.1M SF and increases HTA’s portfolio of medical office space to 25M SF.
The deal is expected to close by Q3 2017, pending a few negotiations. Experts said the final deal could change since 31 of the properties are subject to right of first refusal. The move comes at a time when experts are wary the U.S. medical office market is heading for a bubble as Baby Boomers near their peak and developers keep adding medical office buildings.
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