K&L Gates Advises Healthcare Trust of America, Inc., on $2.3 Billion Acquisition of 72 Medical Office Buildings
Charleston - Global law firm K&L Gates LLP has advised Healthcare Trust of America, Inc. (NYSE: HTA), the largest owner and operator of medical office buildings in the United States, on the $2.3 billion acquisition of 72 medical office buildings and development parcels from Duke Realty Corporation (NYSE: DRE), together with Duke’s entire medical office development, management, and leasing platform. The acquisition transpired over four serial closings between May and July, the first closing occurring less than one month after HTA reached a definitive agreement with Duke to acquire the portfolio and platform. The transaction solidifies HTA as the dominant owner and operator of medical office buildings located in key, gateway markets in the United States.
The K&L Gates team advising HTA was led by Charleston real estate partner Matt Norton, and included real estate partners Dennis Kiely in New York and Camden Betz in Raleigh, and real estate associates Amy Ironmonger in New York and Kari Larson in Seattle, together with other real estate and corporate lawyers in the firm’s Boston, Charleston, Chicago, Dallas, Los Angeles, Miami, New York, Raleigh, Pittsburgh, Seattle, and Washington, D.C., offices.
K&L Gates has a longstanding client relationship with HTA, having also recently advised the real estate investment trust on its $150 million acquisition, in May, of 11 medical office buildings in Phoenix and Southern California from Dignity Health; its $38.5 million acquisition, also in May, of a medical office building in Fort Worth, Texas; and its purchase of six medical office buildings in the Tampa area through separate closings in June, July, and August.
K&L Gates is a fully integrated global law firm with lawyers located across five continents. The firm represents leading multinational corporations, growth and middle-market companies, capital markets participants and entrepreneurs in every major industry group as well as public sector entities, educational institutions, philanthropic organizations and individuals.