|
x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Maryland (Healthcare Trust of America, Inc.)
|
|
20-4738467
|
Delaware (Healthcare Trust of America Holdings, LP)
|
|
20-4738347
|
(State or other jurisdiction of
incorporation or organization)
|
|
(I.R.S. Employer
Identification No.)
|
Healthcare Trust of America, Inc.
|
x
Yes
|
¨
No
|
|
Healthcare Trust of America Holdings, LP
|
x
Yes
|
¨
No
|
|
Healthcare Trust of America, Inc.
|
x
Yes
|
¨
No
|
|
Healthcare Trust of America Holdings, LP
|
x
Yes
|
¨
No
|
|
Healthcare Trust of America, Inc.
|
Large-accelerated filer
x
|
Accelerated filer
¨
|
Non-accelerated filer
¨
|
Smaller reporting company
¨
|
|
|
|
(Do not check if a smaller reporting company)
|
|
Healthcare Trust of America Holdings, LP
|
Large-accelerated filer
¨
|
Accelerated filer
¨
|
Non-accelerated filer
x
|
Smaller reporting company
¨
|
|
|
|
(Do not check if a smaller reporting company)
|
|
Healthcare Trust of America, Inc.
|
¨
Yes
|
x
No
|
|
Healthcare Trust of America Holdings, LP
|
¨
Yes
|
x
No
|
|
|
•
|
enhances stockholders’ understanding of HTA and
HTALP
by enabling stockholders to view the business as a whole in the same manner that management views and operates the business;
|
•
|
eliminates duplicative disclosure and provides a more streamlined and readable presentation since a substantial portion of the disclosure in this Quarterly Report applies to both HTA and
HTALP
; and
|
•
|
creates time and cost efficiencies through the preparation of a single Quarterly Report instead of two separate Quarterly Reports.
|
•
|
the condensed consolidated financial statements;
|
•
|
certain accompanying notes to the condensed consolidated financial statements, including Note 7 - Debt, Note 9 - Stockholders’ Equity and Partners’ Capital, Note 11 - Per Share Data of HTA and Note 12 - Per Unit Data of
HTALP
;
|
•
|
the Funds From Operations (“FFO”) and Normalized FFO in Part I, Item 2 of this Quarterly Report;
|
•
|
the controls and procedures in Part I, Item 4 of this Quarterly Report; and
|
•
|
the certifications of the Chief Executive Officer and the Chief Financial Officer included as Exhibits 31 and 32 to this Quarterly Report.
|
|
|
Page
|
Healthcare Trust of America, Inc.
|
|
|
|
||
|
||
|
||
|
||
Healthcare Trust of America Holdings, LP
|
|
|
|
||
|
||
|
||
|
||
Notes for Healthcare Trust of America, Inc. and Healthcare Trust of America Holdings, LP
|
|
|
|
||
|
|
|
|
|
|
|
|
|
June 30, 2015
|
|
December 31, 2014
|
||||
ASSETS
|
|
|
|
|
||||
Real estate investments:
|
|
|
|
|
||||
Land
|
|
$
|
298,995
|
|
|
$
|
287,755
|
|
Building and improvements
|
|
2,872,709
|
|
|
2,665,777
|
|
||
Lease intangibles
|
|
435,218
|
|
|
419,288
|
|
||
|
|
3,606,922
|
|
|
3,372,820
|
|
||
Accumulated depreciation and amortization
|
|
(617,105
|
)
|
|
(549,976
|
)
|
||
Real estate investments, net ($0 and $80,419 from consolidated VIEs, see Note 2)
|
|
2,989,817
|
|
|
2,822,844
|
|
||
Cash and cash equivalents
|
|
16,577
|
|
|
10,413
|
|
||
Restricted cash and escrow deposits
|
|
16,249
|
|
|
20,799
|
|
||
Receivables and other assets, net
|
|
148,343
|
|
|
144,106
|
|
||
Other intangibles, net
|
|
47,126
|
|
|
43,488
|
|
||
Total assets
|
|
$
|
3,218,112
|
|
|
$
|
3,041,650
|
|
LIABILITIES AND EQUITY
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Debt
|
|
$
|
1,639,001
|
|
|
$
|
1,412,461
|
|
Accounts payable and accrued liabilities
|
|
85,003
|
|
|
101,042
|
|
||
Derivative financial instruments - interest rate swaps
|
|
2,721
|
|
|
2,888
|
|
||
Security deposits, prepaid rent and other liabilities
|
|
43,176
|
|
|
32,687
|
|
||
Intangible liabilities, net
|
|
23,585
|
|
|
12,425
|
|
||
Total liabilities
|
|
1,793,486
|
|
|
1,561,503
|
|
||
Commitments and contingencies
|
|
|
|
|
||||
Redeemable noncontrolling interests
|
|
3,744
|
|
|
3,726
|
|
||
Equity:
|
|
|
|
|
||||
Preferred stock, $0.01 par value; 200,000,000 shares authorized; none issued and outstanding
|
|
—
|
|
|
—
|
|
||
Class A common stock, $0.01 par value; 1,000,000,000 shares authorized; 125,194,108 and 125,087,268 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively
|
|
1,252
|
|
|
1,251
|
|
||
Additional paid-in capital
|
|
2,283,737
|
|
|
2,281,932
|
|
||
Cumulative dividends in excess of earnings
|
|
(892,543
|
)
|
|
(836,044
|
)
|
||
Total stockholders’ equity
|
|
1,392,446
|
|
|
1,447,139
|
|
||
Noncontrolling interests
|
|
28,436
|
|
|
29,282
|
|
||
Total equity
|
|
1,420,882
|
|
|
1,476,421
|
|
||
Total liabilities and equity
|
|
$
|
3,218,112
|
|
|
$
|
3,041,650
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
||||||||
Rental income
|
$
|
99,243
|
|
|
$
|
88,946
|
|
|
$
|
197,695
|
|
|
$
|
179,398
|
|
Interest and other operating income
|
68
|
|
|
725
|
|
|
136
|
|
|
1,577
|
|
||||
Total revenues
|
99,311
|
|
|
89,671
|
|
|
197,831
|
|
|
180,975
|
|
||||
Expenses:
|
|
|
|
|
|
|
|
||||||||
Rental
|
29,237
|
|
|
27,064
|
|
|
59,934
|
|
|
56,653
|
|
||||
General and administrative
|
6,224
|
|
|
5,903
|
|
|
12,799
|
|
|
12,202
|
|
||||
Acquisition-related
|
1,101
|
|
|
4,869
|
|
|
2,458
|
|
|
5,845
|
|
||||
Depreciation and amortization
|
38,066
|
|
|
33,602
|
|
|
74,661
|
|
|
68,544
|
|
||||
Impairment
|
1,655
|
|
|
—
|
|
|
1,655
|
|
|
—
|
|
||||
Total expenses
|
76,283
|
|
|
71,438
|
|
|
151,507
|
|
|
143,244
|
|
||||
Income before other income (expense)
|
23,028
|
|
|
18,233
|
|
|
46,324
|
|
|
37,731
|
|
||||
Interest expense:
|
|
|
|
|
|
|
|
||||||||
Interest related to derivative financial instruments
|
(820
|
)
|
|
(1,370
|
)
|
|
(1,375
|
)
|
|
(2,715
|
)
|
||||
Net gain (loss) on change in fair value of derivative financial instruments
|
1,314
|
|
|
(2,580
|
)
|
|
(696
|
)
|
|
(3,421
|
)
|
||||
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments
|
494
|
|
|
(3,950
|
)
|
|
(2,071
|
)
|
|
(6,136
|
)
|
||||
Interest related to debt
|
(14,159
|
)
|
|
(11,779
|
)
|
|
(27,963
|
)
|
|
(23,683
|
)
|
||||
Gain on extinguishment of debt
|
121
|
|
|
365
|
|
|
121
|
|
|
365
|
|
||||
Other income
|
4
|
|
|
14
|
|
|
19
|
|
|
40
|
|
||||
Net income
|
$
|
9,488
|
|
|
$
|
2,883
|
|
|
$
|
16,430
|
|
|
$
|
8,317
|
|
Net income attributable to noncontrolling interests
(1)
|
(196
|
)
|
|
(28
|
)
|
|
(334
|
)
|
|
(170
|
)
|
||||
Net income attributable to common stockholders
|
$
|
9,292
|
|
|
$
|
2,855
|
|
|
$
|
16,096
|
|
|
$
|
8,147
|
|
Earnings per common share - basic:
(2)
|
|
|
|
|
|
|
|
||||||||
Net income attributable to common stockholders
|
$
|
0.07
|
|
|
$
|
0.02
|
|
|
$
|
0.13
|
|
|
$
|
0.07
|
|
Earnings per common share - diluted:
(2)
|
|
|
|
|
|
|
|
||||||||
Net income attributable to common stockholders
|
$
|
0.07
|
|
|
$
|
0.02
|
|
|
$
|
0.13
|
|
|
$
|
0.07
|
|
Weighted average number of common shares outstanding:
(2)
|
|
|
|
|
|
|
|
||||||||
Basic
|
125,194
|
|
|
119,012
|
|
|
125,184
|
|
|
118,829
|
|
||||
Diluted
|
127,124
|
|
|
120,275
|
|
|
127,114
|
|
|
120,094
|
|
||||
Dividends declared per common share
(2)
|
$
|
0.29
|
|
|
$
|
0.29
|
|
|
$
|
0.58
|
|
|
$
|
0.58
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Includes amounts attributable to redeemable noncontrolling interests.
|
|||||||||||||||
(2) For the three and six months ended June 30, 2014, amounts have been adjusted retroactively to reflect a 1-for-2 reverse stock split effected December 15, 2014.
|
|
Class A Common Stock
(1)
|
|
Additional Paid-In Capital
(1)
|
|
Cumulative Dividends in Excess of Earnings
|
|
Total Stockholders’ Equity
|
|
Noncontrolling Interest
|
|
Total Equity
|
|||||||||||||||
|
Shares
|
|
Amount
|
|||||||||||||||||||||||
Balance as of December 31, 2013
|
118,440
|
|
|
$
|
1,184
|
|
|
$
|
2,128,082
|
|
|
$
|
(742,060
|
)
|
|
$
|
1,387,206
|
|
|
$
|
12,543
|
|
|
$
|
1,399,749
|
|
Issuance of common stock
|
771
|
|
|
8
|
|
|
17,734
|
|
|
—
|
|
|
17,742
|
|
|
—
|
|
|
17,742
|
|
||||||
Share-based award transactions, net
|
248
|
|
|
3
|
|
|
2,251
|
|
|
—
|
|
|
2,254
|
|
|
—
|
|
|
2,254
|
|
||||||
Repurchase and cancellation of common stock
|
(29
|
)
|
|
(1
|
)
|
|
(571
|
)
|
|
—
|
|
|
(572
|
)
|
|
—
|
|
|
(572
|
)
|
||||||
Redemption of noncontrolling interest
|
25
|
|
|
—
|
|
|
244
|
|
|
—
|
|
|
244
|
|
|
(244
|
)
|
|
—
|
|
||||||
Dividends
|
—
|
|
|
—
|
|
|
—
|
|
|
(68,453
|
)
|
|
(68,453
|
)
|
|
(693
|
)
|
|
(69,146
|
)
|
||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
8,147
|
|
|
8,147
|
|
|
87
|
|
|
8,234
|
|
||||||
Balance as of June 30, 2014
|
119,455
|
|
|
$
|
1,194
|
|
|
$
|
2,147,740
|
|
|
$
|
(802,366
|
)
|
|
$
|
1,346,568
|
|
|
$
|
11,693
|
|
|
$
|
1,358,261
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Balance as of December 31, 2014
|
125,087
|
|
|
$
|
1,251
|
|
|
$
|
2,281,932
|
|
|
$
|
(836,044
|
)
|
|
$
|
1,447,139
|
|
|
$
|
29,282
|
|
|
$
|
1,476,421
|
|
Share-based award transactions, net
|
155
|
|
|
1
|
|
|
3,103
|
|
|
—
|
|
|
3,104
|
|
|
—
|
|
|
3,104
|
|
||||||
Repurchase and cancellation of common stock
|
(48
|
)
|
|
—
|
|
|
(1,298
|
)
|
|
—
|
|
|
(1,298
|
)
|
|
—
|
|
|
(1,298
|
)
|
||||||
Dividends
|
—
|
|
|
—
|
|
|
—
|
|
|
(72,595
|
)
|
|
(72,595
|
)
|
|
(1,123
|
)
|
|
(73,718
|
)
|
||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
16,096
|
|
|
16,096
|
|
|
277
|
|
|
16,373
|
|
||||||
Balance as of June 30, 2015
|
125,194
|
|
|
$
|
1,252
|
|
|
$
|
2,283,737
|
|
|
$
|
(892,543
|
)
|
|
$
|
1,392,446
|
|
|
$
|
28,436
|
|
|
$
|
1,420,882
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
(1) For the six months ended June 30, 2014, amounts have been adjusted retroactively to reflect a 1-for-2 reverse stock split effected December 15, 2014.
|
|
Six Months Ended June 30,
|
||||||
|
2015
|
|
2014
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
16,430
|
|
|
$
|
8,317
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation, amortization and other
|
72,905
|
|
|
66,990
|
|
||
Share-based compensation expense
|
3,104
|
|
|
2,254
|
|
||
Bad debt expense
|
289
|
|
|
(40
|
)
|
||
Impairment
|
1,655
|
|
|
—
|
|
||
Gain on extinguishment of debt
|
(121
|
)
|
|
(365
|
)
|
||
Change in fair value of derivative financial instruments
|
696
|
|
|
3,421
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Receivables and other assets, net
|
(3,885
|
)
|
|
(2,864
|
)
|
||
Accounts payable and accrued liabilities
|
(12,024
|
)
|
|
(2,136
|
)
|
||
Security deposits, prepaid rent and other liabilities
|
8,117
|
|
|
(2,365
|
)
|
||
Net cash provided by operating activities
|
87,166
|
|
|
73,212
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Acquisition of real estate operating properties
|
(224,345
|
)
|
|
(123,186
|
)
|
||
Capital expenditures
|
(13,131
|
)
|
|
(10,264
|
)
|
||
Collection of real estate notes receivable
|
—
|
|
|
15,000
|
|
||
Restricted cash, escrow deposits and other assets
|
4,550
|
|
|
(1,236
|
)
|
||
Net cash used in investing activities
|
(232,926
|
)
|
|
(119,686
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Proceeds from unsecured senior notes
|
—
|
|
|
297,615
|
|
||
Borrowings on unsecured revolving credit facility
|
361,000
|
|
|
153,000
|
|
||
Payments on unsecured revolving credit facility
|
(167,000
|
)
|
|
(208,000
|
)
|
||
Borrowings on unsecured term loans
|
100,000
|
|
|
—
|
|
||
Payments on secured real estate term loan and mortgage loans
|
(67,171
|
)
|
|
(27,214
|
)
|
||
Deferred financing costs
|
(276
|
)
|
|
(3,553
|
)
|
||
Security deposits
|
183
|
|
|
858
|
|
||
Proceeds from issuance of common stock, net
|
—
|
|
|
18,016
|
|
||
Repurchase and cancellation of common stock
|
(1,298
|
)
|
|
(572
|
)
|
||
Dividends
|
(72,584
|
)
|
|
(68,161
|
)
|
||
Distributions to noncontrolling interest of limited partners
|
(930
|
)
|
|
(877
|
)
|
||
Net c
ash provided by fi
nancing activities
|
151,924
|
|
|
161,112
|
|
||
Net change in cash and cash equivalents
|
6,164
|
|
|
114,638
|
|
||
Cash and cash equivalents - beginning of period
|
10,413
|
|
|
18,081
|
|
||
Cash and cash equivalents - end of period
|
$
|
16,577
|
|
|
$
|
132,719
|
|
|
|
June 30, 2015
|
|
December 31, 2014
|
||||
ASSETS
|
|
|
|
|
||||
Real estate investments:
|
|
|
|
|
||||
Land
|
|
$
|
298,995
|
|
|
$
|
287,755
|
|
Building and improvements
|
|
2,872,709
|
|
|
2,665,777
|
|
||
Lease intangibles
|
|
435,218
|
|
|
419,288
|
|
||
|
|
3,606,922
|
|
|
3,372,820
|
|
||
Accumulated depreciation and amortization
|
|
(617,105
|
)
|
|
(549,976
|
)
|
||
Real estate investments, net ($0 and $80,419 from consolidated VIEs, see Note 2)
|
|
2,989,817
|
|
|
2,822,844
|
|
||
Cash and cash equivalents
|
|
16,577
|
|
|
10,413
|
|
||
Restricted cash and escrow deposits
|
|
16,249
|
|
|
20,799
|
|
||
Receivables and other assets, net
|
|
148,343
|
|
|
144,106
|
|
||
Other intangibles, net
|
|
47,126
|
|
|
43,488
|
|
||
Total assets
|
|
$
|
3,218,112
|
|
|
$
|
3,041,650
|
|
LIABILITIES AND PARTNERS’ CAPITAL
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
||||
Debt
|
|
$
|
1,639,001
|
|
|
$
|
1,412,461
|
|
Accounts payable and accrued liabilities
|
|
85,003
|
|
|
101,042
|
|
||
Derivative financial instruments - interest rate swaps
|
|
2,721
|
|
|
2,888
|
|
||
Security deposits, prepaid rent and other liabilities
|
|
43,176
|
|
|
32,687
|
|
||
Intangible liabilities, net
|
|
23,585
|
|
|
12,425
|
|
||
Total liabilities
|
|
1,793,486
|
|
|
1,561,503
|
|
||
Commitments and contingencies
|
|
|
|
|
|
|
||
Redeemable noncontrolling interests
|
|
3,744
|
|
|
3,726
|
|
||
Partners’ Capital:
|
|
|
|
|
||||
Limited partners’ capital, 1,929,942 and 2,154,942 units issued and outstanding as of June 30, 2015 and December 31, 2014, respectively
|
|
28,166
|
|
|
29,012
|
|
||
General partners’ capital, 125,194,108 and 125,087,268 units issued and outstanding as of June 30, 2015 and December 31, 2014, respectively
|
|
1,392,716
|
|
|
1,447,409
|
|
||
Total partners’ capital
|
|
1,420,882
|
|
|
1,476,421
|
|
||
Total liabilities and partners’ capital
|
|
$
|
3,218,112
|
|
|
$
|
3,041,650
|
|
|
|
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Revenues:
|
|
|
|
|
|
|
|
||||||||
Rental income
|
$
|
99,243
|
|
|
$
|
88,946
|
|
|
$
|
197,695
|
|
|
$
|
179,398
|
|
Interest and other operating income
|
68
|
|
|
725
|
|
|
136
|
|
|
1,577
|
|
||||
Total revenues
|
99,311
|
|
|
89,671
|
|
|
197,831
|
|
|
180,975
|
|
||||
Expenses:
|
|
|
|
|
|
|
|
||||||||
Rental
|
29,237
|
|
|
27,064
|
|
|
59,934
|
|
|
56,653
|
|
||||
General and administrative
|
6,224
|
|
|
5,903
|
|
|
12,799
|
|
|
12,202
|
|
||||
Acquisition-related
|
1,101
|
|
|
4,869
|
|
|
2,458
|
|
|
5,845
|
|
||||
Depreciation and amortization
|
38,066
|
|
|
33,602
|
|
|
74,661
|
|
|
68,544
|
|
||||
Impairment
|
1,655
|
|
|
—
|
|
|
1,655
|
|
|
—
|
|
||||
Total expenses
|
76,283
|
|
|
71,438
|
|
|
151,507
|
|
|
143,244
|
|
||||
Income before other income (expense)
|
23,028
|
|
|
18,233
|
|
|
46,324
|
|
|
37,731
|
|
||||
Interest expense:
|
|
|
|
|
|
|
|
||||||||
Interest related to derivative financial instruments
|
(820
|
)
|
|
(1,370
|
)
|
|
(1,375
|
)
|
|
(2,715
|
)
|
||||
Net gain (loss) on change in fair value of derivative financial instruments
|
1,314
|
|
|
(2,580
|
)
|
|
(696
|
)
|
|
(3,421
|
)
|
||||
Total interest related to derivative financial instruments, including net change in fair value of derivative financial instruments
|
494
|
|
|
(3,950
|
)
|
|
(2,071
|
)
|
|
(6,136
|
)
|
||||
Interest related to debt
|
(14,159
|
)
|
|
(11,779
|
)
|
|
(27,963
|
)
|
|
(23,683
|
)
|
||||
Gain on extinguishment of debt
|
121
|
|
|
365
|
|
|
121
|
|
|
365
|
|
||||
Other income
|
4
|
|
|
14
|
|
|
19
|
|
|
40
|
|
||||
Net income
|
$
|
9,488
|
|
|
$
|
2,883
|
|
|
$
|
16,430
|
|
|
$
|
8,317
|
|
Net income attributable to noncontrolling interests
|
(24
|
)
|
|
(40
|
)
|
|
(57
|
)
|
|
(78
|
)
|
||||
Net income attributable to common unitholders
|
$
|
9,464
|
|
|
$
|
2,843
|
|
|
$
|
16,373
|
|
|
$
|
8,239
|
|
Earnings per common unit - basic:
(1)
|
|
|
|
|
|
|
|
||||||||
Net income attributable to common unitholders
|
$
|
0.07
|
|
|
$
|
0.02
|
|
|
$
|
0.13
|
|
|
$
|
0.07
|
|
Earnings per common unit - diluted:
(1)
|
|
|
|
|
|
|
|
||||||||
Net income attributable to common unitholders
|
$
|
0.07
|
|
|
$
|
0.02
|
|
|
$
|
0.13
|
|
|
$
|
0.07
|
|
Weighted average number of common units outstanding:
(1)
|
|
|
|
|
|
|
|
||||||||
Basic
|
127,203
|
|
|
120,534
|
|
|
127,266
|
|
|
120,353
|
|
||||
Diluted
|
127,203
|
|
|
120,534
|
|
|
127,266
|
|
|
120,353
|
|
||||
Distributions declared per common unit
(1)
|
$
|
0.29
|
|
|
$
|
0.29
|
|
|
$
|
0.58
|
|
|
$
|
0.58
|
|
|
|
|
|
|
|
|
|
||||||||
(1) For the three and six months ended June 30, 2014, amounts have been adjusted retroactively to reflect a 1-for-2 reverse stock split effected December 15, 2014.
|
|
General Partners’ Capital
|
|
Limited Partners’ Capital
|
|
Total Partners’ Capital
|
||||||||||||
|
Units
(1)
|
|
Amount
|
|
Units
(1)
|
|
Amount
|
|
|||||||||
Balance as of December 31, 2013
|
118,440
|
|
|
$
|
1,387,476
|
|
|
1,527
|
|
|
$
|
13,818
|
|
|
$
|
1,401,294
|
|
Issuance of general partner units
|
771
|
|
|
17,742
|
|
|
—
|
|
|
—
|
|
|
17,742
|
|
|||
Share-based award transactions, net
|
248
|
|
|
2,254
|
|
|
—
|
|
|
—
|
|
|
2,254
|
|
|||
Redemptions of general partner units
|
(29
|
)
|
|
(572
|
)
|
|
—
|
|
|
—
|
|
|
(572
|
)
|
|||
Redemption of limited partner units
|
25
|
|
|
244
|
|
|
(25
|
)
|
|
(244
|
)
|
|
—
|
|
|||
Distributions
|
—
|
|
|
(68,453
|
)
|
|
—
|
|
|
(737
|
)
|
|
(69,190
|
)
|
|||
Net income
|
—
|
|
|
8,147
|
|
|
—
|
|
|
92
|
|
|
8,239
|
|
|||
Balance as of June 30, 2014
|
119,455
|
|
|
$
|
1,346,838
|
|
|
1,502
|
|
|
$
|
12,929
|
|
|
$
|
1,359,767
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
Balance as of December 31, 2014
|
125,087
|
|
|
$
|
1,447,409
|
|
|
2,155
|
|
|
$
|
29,012
|
|
|
$
|
1,476,421
|
|
Share-based award transactions, net
|
155
|
|
|
3,104
|
|
|
(225
|
)
|
|
—
|
|
|
3,104
|
|
|||
Redemption of general partner units
|
(48
|
)
|
|
(1,298
|
)
|
|
—
|
|
|
—
|
|
|
(1,298
|
)
|
|||
Distributions
|
—
|
|
|
(72,595
|
)
|
|
—
|
|
|
(1,123
|
)
|
|
(73,718
|
)
|
|||
Net income
|
—
|
|
|
16,096
|
|
|
—
|
|
|
277
|
|
|
16,373
|
|
|||
Balance as of June 30, 2015
|
125,194
|
|
|
$
|
1,392,716
|
|
|
1,930
|
|
|
$
|
28,166
|
|
|
$
|
1,420,882
|
|
|
|
|
|
|
|
|
|
|
|
||||||||
(1) For the six months ended June 30, 2014, amounts have been adjusted retroactively to reflect a 1-for-2 reverse stock split effected December 15, 2014.
|
|
Six Months Ended June 30,
|
||||||
|
2015
|
|
2014
|
||||
Cash flows from operating activities:
|
|
|
|
||||
Net income
|
$
|
16,430
|
|
|
$
|
8,317
|
|
Adjustments to reconcile net income to net cash provided by operating activities:
|
|
|
|
||||
Depreciation, amortization and other
|
72,905
|
|
|
66,990
|
|
||
Share-based compensation expense
|
3,104
|
|
|
2,254
|
|
||
Bad debt expense
|
289
|
|
|
(40
|
)
|
||
Impairment
|
1,655
|
|
|
—
|
|
||
Gain on extinguishment of debt
|
(121
|
)
|
|
(365
|
)
|
||
Change in fair value of derivative financial instruments
|
696
|
|
|
3,421
|
|
||
Changes in operating assets and liabilities:
|
|
|
|
||||
Receivables and other assets, net
|
(3,885
|
)
|
|
(2,864
|
)
|
||
Accounts payable and accrued liabilities
|
(12,024
|
)
|
|
(2,136
|
)
|
||
Security deposits, prepaid rent and other liabilities
|
8,117
|
|
|
(2,365
|
)
|
||
Net cash provided by operating activities
|
87,166
|
|
|
73,212
|
|
||
Cash flows from investing activities:
|
|
|
|
||||
Acquisition of real estate operating properties
|
(224,345
|
)
|
|
(123,186
|
)
|
||
Capital expenditures
|
(13,131
|
)
|
|
(10,264
|
)
|
||
Collection of real estate notes receivable
|
—
|
|
|
15,000
|
|
||
Restricted cash, escrow deposits and other assets
|
4,550
|
|
|
(1,236
|
)
|
||
Net cash used in investing activities
|
(232,926
|
)
|
|
(119,686
|
)
|
||
Cash flows from financing activities:
|
|
|
|
||||
Proceeds from unsecured senior notes
|
—
|
|
|
297,615
|
|
||
Borrowings on unsecured revolving credit facility
|
361,000
|
|
|
153,000
|
|
||
Payments on unsecured revolving credit facility
|
(167,000
|
)
|
|
(208,000
|
)
|
||
Borrowings on unsecured term loans
|
100,000
|
|
|
—
|
|
||
Payments on secured real estate term loan and mortgage loans
|
(67,171
|
)
|
|
(27,214
|
)
|
||
Deferred financing costs
|
(276
|
)
|
|
(3,553
|
)
|
||
Security deposits
|
183
|
|
|
858
|
|
||
Proceeds from issuance of general partner units, net
|
—
|
|
|
18,016
|
|
||
Repurchase and cancellation of general partner units
|
(1,298
|
)
|
|
(572
|
)
|
||
Distributions to general partner
|
(72,584
|
)
|
|
(68,161
|
)
|
||
Distributions to limited partners and redeemable noncontrolling interests
|
(930
|
)
|
|
(877
|
)
|
||
N
et cash provided by fi
nancing activities
|
151,924
|
|
|
161,112
|
|
||
Net change in cash and cash equivalents
|
6,164
|
|
|
114,638
|
|
||
Cash and cash equivalents - beginning of period
|
10,413
|
|
|
18,081
|
|
||
Cash and cash equivalents - end of period
|
$
|
16,577
|
|
|
$
|
132,719
|
|
Acquisitions through June 30, 2015
|
|
Total
|
||
Land
|
|
$
|
11,240
|
|
Building and improvements
|
|
200,071
|
|
|
Below market leasehold interests
|
|
2,350
|
|
|
Above market leases
|
|
3,279
|
|
|
In place leases
|
|
19,403
|
|
|
Below market leases
|
|
(5,912
|
)
|
|
Above market leasehold interests
|
|
(6,086
|
)
|
|
Net assets acquired
|
|
224,345
|
|
|
Other, net
|
|
1,165
|
|
|
Aggregate purchase price
|
|
$
|
225,510
|
|
Acquisitions through June 30, 2014
|
|
Total
|
||
Land
|
|
$
|
46,102
|
|
Building and improvements
|
|
153,186
|
|
|
Below market leasehold interests
|
|
98
|
|
|
Above market leases
|
|
871
|
|
|
In place leases
|
|
15,112
|
|
|
Below market leases
|
|
(674
|
)
|
|
Above market debt, net
|
|
(2,664
|
)
|
|
Net assets acquired
|
|
212,031
|
|
|
Other, net
|
|
(531
|
)
|
|
Aggregate purchase price
|
|
$
|
211,500
|
|
|
June 30, 2015
|
|
December 31, 2014
|
|
|
||||||||
|
Balance
|
|
Weighted Average Remaining Amortization Period in Years
|
|
Balance
|
|
Weighted Average Remaining Amortization Period in Years
|
|
Balance Sheet Classification
|
||||
Assets:
|
|
|
|
|
|
|
|
|
|
||||
In place leases
|
$
|
249,330
|
|
|
9.2
|
|
$
|
231,370
|
|
|
8.8
|
|
Lease intangibles
|
Tenant relationships
|
185,888
|
|
|
10.4
|
|
187,918
|
|
|
10.3
|
|
Lease intangibles
|
||
Above market leases
|
29,944
|
|
|
5.8
|
|
26,676
|
|
|
5.5
|
|
Other intangibles, net
|
||
Below market leasehold interests
|
35,300
|
|
|
64.1
|
|
32,950
|
|
|
67.3
|
|
Other intangibles, net
|
||
|
500,462
|
|
|
|
|
478,914
|
|
|
|
|
|
||
Accumulated amortization
|
(204,760
|
)
|
|
|
|
(182,149
|
)
|
|
|
|
|
||
Total
|
$
|
295,702
|
|
|
15.4
|
|
$
|
296,765
|
|
|
15.2
|
|
|
|
|
|
|
|
|
|
|
|
|
||||
Liabilities:
|
|
|
|
|
|
|
|
|
|
||||
Below market leases
|
$
|
20,043
|
|
|
19.1
|
|
$
|
14,188
|
|
|
11.5
|
|
Intangible liabilities, net
|
Above market leasehold interests
|
9,943
|
|
|
52.5
|
|
3,857
|
|
|
32.1
|
|
Intangible liabilities, net
|
||
|
29,986
|
|
|
|
|
18,045
|
|
|
|
|
|
||
Accumulated amortization
|
(6,401
|
)
|
|
|
|
(5,620
|
)
|
|
|
|
|
||
Total
|
$
|
23,585
|
|
|
32.4
|
|
$
|
12,425
|
|
|
17.1
|
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Amortization recorded against rental income related to above or below market leases
|
$
|
444
|
|
|
$
|
509
|
|
|
$
|
919
|
|
|
$
|
1,029
|
|
Rental expense related to above or below market leasehold interests
|
128
|
|
|
98
|
|
|
233
|
|
|
246
|
|
||||
Amortization expense related to in place leases and tenant relationships
|
12,149
|
|
|
11,699
|
|
|
24,105
|
|
|
24,181
|
|
|
June 30, 2015
|
|
December 31, 2014
|
||||
Accounts receivables, net
|
$
|
20,631
|
|
|
$
|
16,468
|
|
Other receivables
|
8,313
|
|
|
10,639
|
|
||
Deferred financing costs, net
|
15,528
|
|
|
16,929
|
|
||
Deferred leasing costs, net
|
18,086
|
|
|
17,281
|
|
||
Straight-line rent receivables, net
|
61,731
|
|
|
56,433
|
|
||
Prepaid expenses, deposits, equipment and other, net
|
23,203
|
|
|
24,642
|
|
||
Derivative financial instruments - interest rate swaps
|
851
|
|
|
1,714
|
|
||
Total
|
$
|
148,343
|
|
|
$
|
144,106
|
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Amortization expense related to deferred leasing costs
|
$
|
942
|
|
|
$
|
815
|
|
|
$
|
1,928
|
|
|
$
|
1,689
|
|
Interest expense related to deferred financing costs
|
841
|
|
|
629
|
|
|
1,683
|
|
|
1,595
|
|
|
|
June 30, 2015
|
|
December 31, 2014
|
||||
Unsecured revolving credit facility
|
|
$
|
230,000
|
|
|
$
|
36,000
|
|
Unsecured term loans
|
|
455,000
|
|
|
355,000
|
|
||
Unsecured senior notes
|
|
600,000
|
|
|
600,000
|
|
||
Fixed rate mortgages
|
|
325,464
|
|
|
392,399
|
|
||
Variable rate mortgages
|
|
29,238
|
|
|
29,474
|
|
||
|
|
1,639,702
|
|
|
1,412,873
|
|
||
Net discount
|
|
(701
|
)
|
|
(412
|
)
|
||
Total
|
|
$
|
1,639,001
|
|
|
$
|
1,412,461
|
|
Year
|
|
Amount
|
||
2015
|
|
$
|
10,802
|
|
2016
|
|
69,657
|
|
|
2017
|
|
116,626
|
|
|
2018
|
|
14,429
|
|
|
2019
|
|
464,280
|
|
|
Thereafter
|
|
963,908
|
|
|
Total
|
|
$
|
1,639,702
|
|
Notional Amount
|
|
Index
|
|
Rate
|
|
Fair Value
|
|
Instrument
|
|
Maturity
|
|||||
$
|
100,000
|
|
|
LIBOR
|
|
0.86
|
%
|
|
$
|
(430
|
)
|
|
Swap
|
|
6/15/2016
|
50,000
|
|
|
LIBOR
|
|
1.39
|
|
|
62
|
|
|
Swap
|
|
7/17/2019
|
||
105,000
|
|
|
LIBOR
|
|
1.24
|
|
|
789
|
|
|
Swap
|
|
7/17/2019
|
||
26,486
|
|
|
LIBOR + 1.45%
|
|
4.98
|
|
|
(2,291
|
)
|
|
Swap
|
|
5/1/2020
|
Notional Amount
|
|
Index
|
|
Rate
|
|
Fair Value
|
|
Instrument
|
|
Maturity
|
|||||
$
|
100,000
|
|
|
LIBOR
|
|
0.86
|
%
|
|
$
|
(443
|
)
|
|
Swap
|
|
6/15/2016
|
50,000
|
|
|
LIBOR
|
|
1.39
|
|
|
317
|
|
|
Swap
|
|
7/17/2019
|
||
105,000
|
|
|
LIBOR
|
|
1.24
|
|
|
1,397
|
|
|
Swap
|
|
7/17/2019
|
||
26,874
|
|
|
LIBOR + 1.45%
|
|
4.98
|
|
|
(2,445
|
)
|
|
Swap
|
|
5/1/2020
|
|
|
Asset Derivatives
|
|
Liability Derivatives
|
||||||||||||||||
|
|
|
|
Fair Value
|
|
|
|
Fair Value
|
||||||||||||
Derivatives Not Designated as Hedging Instruments:
|
|
Balance Sheet
Location
|
|
June 30, 2015
|
|
December 31, 2014
|
|
Balance Sheet
Location
|
|
June 30, 2015
|
|
December 31, 2014
|
||||||||
Interest rate swaps
|
|
Receivables and other assets
|
|
$
|
851
|
|
|
$
|
1,714
|
|
|
Derivative financial instruments
|
|
$
|
2,721
|
|
|
$
|
2,888
|
|
|
June 30, 2015
|
|
December 31, 2014
|
||||||||||||||||||||
|
Gross Amounts
|
|
Amounts Subject to Enforceable Master Netting Arrangements
|
|
Net Amounts
|
|
Gross Amounts
|
|
Amounts Subject to Enforceable Master Netting Arrangements
|
|
Net Amounts
|
||||||||||||
Asset derivatives
|
$
|
851
|
|
|
$
|
—
|
|
|
$
|
851
|
|
|
$
|
1,714
|
|
|
$
|
—
|
|
|
$
|
1,714
|
|
Liability derivatives
|
2,721
|
|
|
—
|
|
|
2,721
|
|
|
2,888
|
|
|
—
|
|
|
2,888
|
|
|
Restricted Common Stock
|
|
Weighted
Average Grant
Date Fair Value
|
|||
Balance as of December 31, 2014
|
463,050
|
|
|
$
|
20.90
|
|
Granted
|
174,948
|
|
|
26.95
|
|
|
Vested
|
(114,529
|
)
|
|
21.89
|
|
|
Forfeited
|
(19,898
|
)
|
|
22.75
|
|
|
Balance as of June 30, 2015
|
503,571
|
|
|
$
|
22.63
|
|
|
|
Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1 )
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
Significant
Unobservable Inputs
(Level 3)
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Derivative financial instruments
|
|
$
|
—
|
|
|
$
|
851
|
|
|
$
|
—
|
|
|
$
|
851
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
||||||||
Derivative financial instruments
|
|
$
|
—
|
|
|
$
|
2,721
|
|
|
$
|
—
|
|
|
$
|
2,721
|
|
|
|
Quoted Prices in
Active Markets for
Identical Assets
and Liabilities
(Level 1 )
|
|
Significant Other
Observable Inputs
(Level 2)
|
|
Significant
Unobservable Inputs
(Level 3)
|
|
Total
|
||||||||
Assets:
|
|
|
|
|
|
|
|
|
||||||||
Derivative financial instruments
|
|
$
|
—
|
|
|
$
|
1,714
|
|
|
$
|
—
|
|
|
$
|
1,714
|
|
Liabilities:
|
|
|
|
|
|
|
|
|
||||||||
Derivative financial instruments
|
|
$
|
—
|
|
|
$
|
2,888
|
|
|
$
|
—
|
|
|
$
|
2,888
|
|
|
Six Months Ended June 30,
|
||||||
|
2015
|
|
2014
|
||||
Interest paid
|
$
|
26,684
|
|
|
$
|
21,688
|
|
Income taxes paid
|
541
|
|
|
738
|
|
||
|
|
|
|
||||
Supplemental Disclosure of Noncash Activities:
|
|
|
|
||||
Investing Activities:
|
|
|
|
||||
Accrued capital expenditures
|
$
|
2,839
|
|
|
$
|
454
|
|
The following represents the significant increase (decrease) in certain assets and liabilities in connection with our acquisitions:
|
|
|
|
||||
Debt and interest rate swaps
|
$
|
—
|
|
|
$
|
88,845
|
|
Financing Activities:
|
|
|
|
||||
Dividend distributions declared, but not paid
|
$
|
36,307
|
|
|
$
|
34,365
|
|
•
|
Forward-Looking Statements;
|
•
|
Executive Summary;
|
•
|
Company Highlights;
|
•
|
Critical Accounting Policies;
|
•
|
Recently Issued or Adopted Accounting Pronouncements;
|
•
|
Factors Which May Influence Results of Operations;
|
•
|
Results of Operations;
|
•
|
Non-GAAP Financial Measures;
|
•
|
Liquidity and Capital Resources;
|
•
|
Commitments and Contingencies;
|
•
|
Debt Service Requirements;
|
•
|
Off-Balance Sheet Arrangements;
|
•
|
Inflation; and
|
•
|
Federal Income Tax Changes and Updates for Incorporation in Existing Registration Statements.
|
•
|
For the
three months ended June 30, 2015
, we had net income of
$9.5 million
, compared to
$2.9 million
for the
three months ended June 30, 2014
. For the
six months ended June 30, 2015
, we had net income of
$16.4 million
, compared to
$8.3 million
for the
six months ended June 30, 2014
.
|
•
|
For the
three months ended June 30, 2015
, HTA’s Normalized FFO was
$0.38
per diluted share, or
$48.5 million
, an increase of
$0.02
per diluted share, or
6%
, compared to the
three months ended June 30, 2014
. For the
three months ended June 30, 2015
,
HTALP
’s Normalized FFO was
$0.38
per diluted unit, or
$48.5 million
, an increase of
$0.02
per diluted unit, or
6%
, compared to the
three months ended June 30, 2014
.
|
•
|
For the
six months ended June 30, 2015
, HTA’s Normalized FFO was
$0.75
per diluted share, or
$95.2 million
, an increase of
$0.03
per diluted share, or
4%
, compared to the
six months ended June 30, 2014
. For the
six months ended June 30, 2015
,
HTALP
’s Normalized FFO was
$0.75
per diluted unit, or
$95.2 million
, an increase of
$0.04
per diluted unit, or
6%
, compared to the
six months ended June 30, 2014
.
|
•
|
For additional information on Normalized FFO, see “FFO and Normalized FFO” below, which includes a reconciliation to net income attributable to common stockholders/unitholders and an explanation of why we present this non-GAAP financial measure.
|
•
|
For the
three months ended June 30, 2015
, our total revenue increased
10.8%
, or
$9.6 million
, to
$99.3 million
, compared to the
three months ended June 30, 2014
. For the
six months ended June 30, 2015
, our total revenue increased
9.3%
, or
$16.9 million
, to
$197.8 million
, compared to the
six months ended June 30, 2014
.
|
•
|
For the
three months ended June 30, 2015
, our NOI increased
11.9%
, or
$7.5 million
, to
$70.1 million
, compared to the
three months ended June 30, 2014
. For the
six months ended June 30, 2015
, our NOI increased
10.9%
, or
$13.6 million
, to
$137.9 million
, compared to the
six months ended June 30, 2014
.
|
•
|
For the
three months ended June 30, 2015
, our Same-Property Cash NOI increased
3.0%
, or
$1.7 million
, to
$58.0 million
, compared to the
three months ended June 30, 2014
. For the
six months ended June 30, 2015
, our Same-Property Cash NOI increased
3.0%
, or
$3.3 million
, to
$115.1 million
, compared to the
six months ended June 30, 2014
.
|
•
|
For additional information on NOI and Same-Property Cash NOI, see “NOI, Cash NOI and Same-Property Cash NOI” below, which includes a reconciliation to net income and an explanation of why we present these non-GAAP financial measures.
|
•
|
As of
June 30, 2015
, our leased rate (includes leases which have been executed, but which have not yet commenced) was
91.7%
by GLA and our occupancy rate was
91.1%
by GLA.
|
•
|
We entered into new and renewal leases on approximately
291,000
and
476,000
square feet of GLA during the
three and six months ended June 30, 2015
, respectively.
|
•
|
Tenant retention for the Same-Property portfolio was
85%
for the quarter and
82%
for the year-to-date, which we believe is indicative of our commitment to maintaining buildings in desirable locations and fostering strong tenant relationships. Tenant retention is calculated by taking the sum of the total GLA of tenants that renew an expiring lease divided by the total GLA of expiring leases.
|
•
|
We have acquired
$225.5 million
of MOBs during the
six months ended June 30, 2015
, an increase in our portfolio size by approximately
6.8%
based on purchase price.
|
•
|
All of our acquisitions during the
six months ended June 30, 2015
were either on the campuses of, or aligned with, nationally and regionally recognized healthcare systems. The leased rate at closing of these acquired properties was
99%
.
|
•
|
All of our acquisitions during the
six months ended June 30, 2015
were located in our key markets of Atlanta, Boston, Charleston, Indianapolis and Raleigh.
|
•
|
As of
June 30, 2015
, we had total liquidity of
$631.1 million
, including cash and cash equivalents of
$16.6 million
and
$614.5 million
available on our unsecured revolving credit facility (includes the impact of
$5.5 million
of outstanding letters of credit). Our leverage ratio of debt to capitalization was
35.0%
.
|
•
|
In February 2015, we amended our Unsecured Credit Agreement. The amendment added an additional lender and increased the amount available under the unsecured revolving credit facility by $50.0 million to $850.0 million. The other existing terms of the Unsecured Credit Agreement were unchanged.
|
•
|
In March 2015, we acquired two MOBs located in Atlanta, Georgia for $35.3 million. These buildings are located on the campus of or affiliated with WellStar (98% leased and had approximately 117,000 square feet of GLA).
|
•
|
In April 2015, we acquired a two MOBs located in Raleigh, North Carolina for $18.7 million. These buildings are affiliated with Cary Orthopedics (100% leased and approximately 67,000 square feet of GLA).
|
•
|
In April 2015, we acquired a MOB located in Indianapolis, Indiana for $38.1 million. This building is affiliated with Community Health Network (96% leased and approximately 126,000 square feet of GLA).
|
•
|
In May 2015, we acquired a MOB located in Charleston, South Carolina for $10.6 million. This building is affiliated with Medical University of South Carolina (100% leased and approximately 39,000 square feet of GLA).
|
•
|
In May 2015, we acquired a MOB located in Raleigh, North Carolina for $21.4 million. This building is affiliated with Rex Healthcare (100% leased and approximately 64,000 square feet of GLA).
|
•
|
In June 2015, we acquired a MOB located in Boston, Massachusetts for $101.5 million. This building was located on the joint campus of Boston University and Boston Medical Center (100% leased and approximately 161,000 square feet of GLA).
|
|
Three Months Ended June 30,
|
|
Six Months Ended June 30,
|
||||||||||||
|
2015
|
|
2014
|
|
2015
|
|
2014
|
||||||||
Contractual rental income
|
$
|
96,039
|
|
|
$
|
86,483
|
|
|
$
|
191,282
|
|
|
$
|
173,868
|
|
Straight-line rent and amortization of above/below market leases
|
2,085
|
|
|
1,464
|
|
|
4,216
|
|
|
3,459
|
|
||||
Other operating revenue
|
1,119
|
|
|
999
|
|
|
2,197
|
|
|
2,071
|
|
||||
Total
|
$
|
99,243
|
|
|
$
|
88,946
|
|
|
$
|
197,695
|
|
|
$
|
179,398
|
|
|
Six Months Ended June 30,
|
|
|
||||||||
|
2015
|
|
2014
|
|
Change
|
||||||
Cash and cash equivalents - beginning of period
|
$
|
10,413
|
|
|
$
|
18,081
|
|
|
$
|
(7,668
|
)
|
Net cash provided by operating activities
|
87,166
|
|
|
73,212
|
|
|
13,954
|
|
|||
Net cash used in investing activities
|
(232,926
|
)
|
|
(119,686
|
)
|
|
(113,240
|
)
|
|||
Net cash provided by financing activities
|
151,924
|
|
|
161,112
|
|
|
(9,188
|
)
|
|||
Cash and cash equivalents - end of period
|
$
|
16,577
|
|
|
$
|
132,719
|
|
|
$
|
(116,142
|
)
|
|
Expected Maturity Date
|
||||||||||||||||||||||||||
|
2015
|
|
2016
|
|
2017
|
|
2018
|
|
2019
|
|
Thereafter
|
|
Total
|
||||||||||||||
Fixed rate debt
|
$
|
10,553
|
|
|
$
|
69,133
|
|
|
$
|
116,062
|
|
|
$
|
13,821
|
|
|
$
|
8,625
|
|
|
$
|
707,270
|
|
|
$
|
925,464
|
|
Weighted average interest rate on fixed rate debt (per annum)
|
5.30
|
%
|
|
5.48
|
%
|
|
5.92
|
%
|
|
6.23
|
%
|
|
5.58
|
%
|
|
3.83
|
%
|
|
4.28
|
%
|
|||||||
Variable rate debt
|
$
|
249
|
|
|
$
|
524
|
|
|
$
|
564
|
|
|
$
|
608
|
|
|
$
|
455,655
|
|
|
$
|
256,638
|
|
|
$
|
714,238
|
|
Weighted average interest rate on variable rate debt based on forward rates in effect as of June 30, 2015 (per annum)
|
1.68
|
%
|
|
2.20
|
%
|
|
2.94
|
%
|
|
3.48
|
%
|
|
3.75
|
%
|
|
3.71
|
%
|
|
1.44
|
%
|
|
Healthcare Trust of America, Inc.
|
||
|
|
|
|
By:
|
/s/ Scott D. Peters
|
|
Chief Executive Officer, President and Chairman
|
|
Scott D. Peters
|
|
(Principal Executive Officer)
|
Date:
|
July 29, 2015
|
|
|
|
|
|
|
By:
|
/s/ Robert A. Milligan
|
|
Chief Financial Officer
|
|
Robert A. Milligan
|
|
(Principal Financial Officer and Principal Accounting Officer)
|
Date:
|
July 29, 2015
|
|
|
|
|
|
|
|
Healthcare Trust of America Holdings, LP
|
||
|
|
|
|
By:
|
Healthcare Trust of America, Inc.,
|
||
|
its General Partner
|
|
|
|
|
|
|
By:
|
/s/ Scott D. Peters
|
|
Chief Executive Officer, President and Chairman
|
|
Scott D. Peters
|
|
(Principal Executive Officer)
|
Date:
|
July 29, 2015
|
|
|
|
|
|
|
By:
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/s/ Robert A. Milligan
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Chief Financial Officer
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Robert A. Milligan
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(Principal Financial Officer and Principal Accounting Officer)
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Date:
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July 29, 2015
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Healthcare Trust of America, Inc.
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Suite 320
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16435 North Scottsdale Road
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Scottsdale, Arizona 85254
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Attn: Chief Executive Officer
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By:
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Name:
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Title:
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Name:
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Title:
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By:
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/s/ Scott D. Peters
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Scott D. Peters
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Chief Executive Officer, President and Chairman
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By:
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/s/ Robert A. Milligan
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Robert A. Milligan
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Chief Financial Officer
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By:
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/s/ Scott D. Peters
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Scott D. Peters
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Chief Executive Officer, President and Chairman of Healthcare Trust of America, Inc., general partner of Healthcare Trust of America Holdings, LP
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By:
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/s/ Robert A. Milligan
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Robert A. Milligan
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Chief Financial Officer of Healthcare Trust of America, Inc., general partner of Healthcare Trust of America Holdings, LP
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By:
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/s/ Scott D. Peters
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Scott D. Peters
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Chief Executive Officer, President and Chairman
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By:
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/s/ Robert A. Milligan
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Robert A. Milligan
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Chief Financial Officer
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By:
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/s/ Scott D. Peters
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Scott D. Peters
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Chief Executive Officer, President and Chairman of Healthcare Trust of America, Inc., general partner of Healthcare Trust of America Holdings, LP
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By:
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/s/ Robert A. Milligan
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Robert A. Milligan
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Chief Financial Officer of Healthcare Trust of America, Inc., general partner of Healthcare Trust of America Holdings, LP
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