Business Context and Reporting Period
This Form 8-K is a current report filed by Healthcare Trust of America, Inc. (the "Company") on September 4, 2009. The filing details a material definitive agreement regarding the acquisition of a healthcare facility from Greenville Hospital System ("GHS").
Key Financial Metrics and Transaction Details
- Transaction Type: Amendment to an Agreement of Sale and Purchase for a property in Greenville.
- Revised Purchase Price: Increased from $161,670,000 to $162,820,000.
- Price Adjustment: An additional $1,150,000 was added to the purchase price to reflect tenant improvement funds originally scheduled for post-closing payment, now paid at closing.
- Rent Impact: The increased purchase price is included in the calculation of the first-year base rent payable by GHS.
- Escrow Funding: The balance of the purchase price (in excess of the original deposit) was funded into escrow on September 9, 2009.
- Effective Dates:
- Scheduled Closing Date: September 15, 2009.
- Expense Proration and Rent Commencement: September 9, 2009.
Material Changes Versus Prior Period
This filing represents a modification of the Purchase Agreement originally dated July 15, 2009, and subsequently amended on August 14, August 21, and August 26, 2009. The primary material change in this "Fourth Amendment" is the increase in the total purchase price by $1,150,000 and the acceleration of the tenant improvement funding to the closing date.
Outlook, Risks, and Management Commentary
The filing does not provide general financial guidance, risk factors, or management commentary beyond the specific terms of the Fourth Amendment. The transaction is contingent upon the closing scheduled for September 15, 2009, with funds already secured in escrow as of September 9, 2009.
Key Facts for Investor Verification
- Verify the final closing of the transaction on or before September 15, 2009.
- Confirm the total consideration paid of $162,820,000.
- Review the impact of the $1,150,000 price increase on the Company's first-year base rent calculations.
- Monitor the commencement of rent payments effective September 9, 2009.