Healthcare Trust of America Buys Boca Raton Medical Office for $50M

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Healthcare Trust of America (HTA) has purchased a Boca Raton, Fla., medical office for $50 million, records show.

Located at 1905 Clint Moore Road, the 2.4-acre property sits along South Military Trail, less than 10 miles from both the Boca Raton Regional Hospital and the Delray Medical Center. Built in 1996, the three-story building offers a full-service imaging center and two outpatient surgical rooms, according to Loopnet

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The seller, Boca Raton-based 1905 Associates LLC, managed by Richard Weber and Edward Steinhardt, paid $23.5 million for the medical center in 2004, according to records. 

Headquartered in Scottsdale, Ariz., HTA is one of the largest health care real estate investment firms in the country. Its portfolio spans approximately 25.3 million square feet of leasable space and $7.5 billion invested primarily in medical office buildings as of June 2021, according to the company.

A HTA representative did not immediately respond to a request for comment, while Weber and Steinhardt could not be reached for comment. JLL‘s Chris Drew, Matthew McCormack, Hermen Rodriguez, and Ike Ojala represented the seller.

Julia Echikson can be reached at jechikson@commercialobserver.com.

 

Update: The article was updated to reflect JLL’s role in the transaction.