Firm Adds Nearly 1 Million Square Feet to Portfolio HOUSTON, TX
- Officials with PM Realty Group (PMRG), a nationally recognized, full-service commercial real estate firm, today announced it was awarded the management and leasing assignment for a 14-property medical portfolio spanning 977,000 square feet, effective immediately.
Awarded by Scottsdale, AZ-based Healthcare Trust of America, Inc (formerly Grubb & Ellis Healthcare REIT, Inc. ), a public non-listed real estate investment trust (REIT), the portfolio consists of medical office and long term acute care facilities across Texas, Oklahoma, Kansas, California and Missouri and includes the following properties and respective square footages:
- 5551 Winghaven Road, O'Fallon, MO (60,824 sq ft)
- Deaconess MOB North, Oklahoma City, OK (61,022 sq ft)
- Deaconess MOB South, Oklahoma City, OK (125,279 sq ft)
- MOP IV Baylor Medical Building, Waxahachie, TX (47,667 sq ft)
- MOP IV Cedar Hill, Cedar Hill, TX (24,850 sq ft)
- MOP IV Greenville, Greenville, TX (43,310 sq ft)
- Cypress Station, Houston, TX (52,040 sq ft)
- Blossom Medical, Webster, TX (109,603 sq ft)
- St. Mary's Physicians Center, Long Beach, CA (66,179 sq ft)
- Mountain Plains (Innova Hospital), San Antonio, TX (60,073 sq ft)
- Triumph Hospital NW, Houston, TX (83,223 sq ft) - Long term acute care facility; acting as owners representative
- Triumph Hospital SW, Houston, TX (67,500 sq ft) - Long term acute care facility; acting as owners representative
- St. John's Rehabilitation Hospital, Chesterfield, MO (112,000 sq ft) - Long term acute care facility; acting as owners representative
- Doctor's Medical, Overland Park, KS (62,795 sq ft)
According to Christopher Balish, senior vice president of asset management for Healthcare Trust, "Our strategy is to continue investing in a diversified portfolio of well-located Class A medical office buildings and healthcare-related facilities while partnering with effective management and leasing firms like PM Realty Group. This performance-driven partnership will enable us to achieve property efficiencies as well as immediate cost savings, resulting in enhanced operating income that we can pass on to our stockholders."
"Our rapidly expanding portfolio of healthcare real estate is a reflection of the emphasis that has been placed on growing our medical office services portfolio. We recognize the unique personalized attention that is required when dealing with physicians in lease negotiations or in management situations and have built a platform that can accommodate the 'uniqueness' required," says Jimmy Gunn, president of PM Realty Group's property services group. With the addition of the HTA portfolio, PM Realty Group now manages and/or leases approximately 172 million square feet of commercial real estate.
About Healthcare Trust of America, formerly Grubb & Ellis Healthcare REIT, Inc.Healthcare Trust of America, Inc.
is a self-managed, publicly registered, non-traded real estate investment trust. The REIT has made 45 geographically diverse acquisitions valued at approximately 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.
About PM Realty Group
Headquartered in Houston, Texas, PM Realty Group (PMRG) is one of the nation’s leading real estate companies focusing on comprehensive property services, development and acquisitions. With a strategic presence in 30 markets, PMRG provides the highest quality services to its clients and investors. PMRG’s clients and investors include large financial institutions, advisors and high net worth individuals. By capitalizing on the team’s experience and expertise, PMRG has the ability to undertake large and challenging management, leasing, development and acquisition projects.
PMRG’s portfolio, including projects managed for third parties, includes commercial office buildings, mixed-use centers, corporate headquarters, industrial buildings, medical facilities, high-rise multifamily buildings and re-appropriated military facilities.
Our goal is to generate exceptional returns for our clients and investors by focusing on real estate fundamentals. For additional information, visit www.pmrg.com