Total Investment: $281.8 Million
GLA: 1.4 Million SF
Key Tenants / Affiliations:
Indiana University Health
Indianapolis, the state capital of Indiana, is the 34th largest MSA in the United States. With its favorable business climate, highly educated population, and low cost of living, Indianapolis continues to attract people to the area. It has a diverse and steady economy, driven by growth in the healthcare, technology, financial services and education sectors.
The primary tenant in HTA’s portfolio is Indiana University Health (IU), one of the most comprehensive healthcare systems in Indiana. HTA has nine properties that are part of IU’s “Beltway Strategy,” an initiative to provide a network of state-of-the-art medical facilities and services to the community in convenient locations off of or near the Indianapolis beltway, I-465. Most of these medical properties are anchored by outpatient centers with substantial ancillary programs, such as ambulatory surgery centers, imaging centers and primary care practices.
Indianapolis serves as HTA’s regional property management and leasing headquarters in the Midwest and was the first market to roll out HTA’s in-house platform in 2011. This platform has helped strengthen HTA’s relationships with its tenants and lower operating expenses across the portfolio. It has also enabled HTA to increase its occupancy and same property NOI in this region over the last several years.