Healthcare Realty Trust Announces Update of Planned Asset Sales and Joint Ventures
04 Januar 2023 - 10:40PM
Healthcare Realty Trust Incorporated (NYSE:HR) today announced the
completion of $1.14 billion of asset sales and joint venture
contributions since July 2022 at a 4.86% cap rate. The Company
generated net proceeds of $1.03 billion from these transactions
after accounting for HR’s joint venture interest as well as
closing-related prorations and capital adjustments. The Company has
additional properties under contract to sell for more than $100
million. These additional sales are expected to close by the end of
February.
The transactions described above include the sale or expected
sale of 34 properties and the contribution of 11 properties to
joint ventures. Collectively these properties have the following
characteristics:
- 49% off-campus
- 30% single-tenant
- 12% non-MOB
- 2.38% average annual in-place contractual rent increases
- 91.0% occupancy for properties sold, 81.9% for joint
ventures
These transactions enhance the quality and growth profile of the
Company by increasing portfolio exposure to higher-growth,
multi-tenant, on-campus medical office buildings.
The $1.125 billion asset sale term loan used for the
merger-related special dividend had a balance of $423 million at
September 30, 2022. With the fourth quarter completed sales of $350
million and expected sales of more than $100 million during the
first quarter, the Company fully repaid the asset sale term loan at
year-end.
Healthcare Realty Trust is a real estate investment trust that
integrates owning, managing, financing and developing
income-producing real estate properties associated primarily with
the delivery of outpatient healthcare services throughout the
United States. As of September 30, 2022, the Company was invested
in over 700 real estate properties totaling more than 40 million
square feet and provided leasing and property management services
to over 35 million square feet nationwide.
Additional information regarding the Company, including this
quarter's operations, can be found at www.healthcarerealty.com.
In addition to the historical information contained
within, the matters discussed in this press release may contain
forward-looking statements that involve risks and uncertainties.
These risks are discussed in filings with the Securities and
Exchange Commission by Healthcare Realty Trust, including its
Annual Report on Form 10-K for the year ended December 31, 2021
under the heading “Risk Factors,” and as updated in its Quarterly
Reports on Form 10-Q filed thereafter. Forward-looking statements
represent the Company’s judgment as of the date of this release.
The Company disclaims any obligation to update forward-looking
statements.
Ron HubbardVice President, Investor RelationsP: 615.269.8290
Healthcare Realty (NYSE:HR)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
Healthcare Realty (NYSE:HR)
Historical Stock Chart
Von Apr 2023 bis Apr 2024