Healthcare Realty Trust to Acquire Medical Office Facilities From Baylor Health Care System
July 12 2004 - 11:32AM
PR Newswire (US)
Healthcare Realty Trust to Acquire Medical Office Facilities From
Baylor Health Care System NASHVILLE, Tenn., July 12
/PRNewswire-FirstCall/ -- Healthcare Realty Trust Incorporated
(NYSE:HR) announced it has signed a definitive purchase agreement
to acquire from Baylor Health Care System of Dallas and its
affiliates 20 medical office facilities totaling more than one
million square feet. The facilities are located on or near the
hospital campuses affiliated with Baylor Health Care System in the
Dallas-Fort Worth area. Total consideration to be paid for the 20
properties is approximately $133 million. These acquisitions are
expected to close in the third quarter of this year and are subject
to closing conditions customary to these types of transactions.
Baylor Health Care System, based in Dallas, Texas, is a
not-for-profit, faith-based network of 11 hospitals, more than 70
primary care centers and practices, eight rehabilitation clinics,
nine senior health centers, 19 affiliated ambulatory surgery
centers, and the Baylor Research Institute. One of the largest
health care providers in Dallas-Fort Worth, Baylor Health Care
System has more than 2,500 licensed beds, 15,000 employees, 3,300
affiliated physicians, and $2.0 billion in assets. Healthcare
Realty Trust is a real estate investment trust that integrates
owning, managing and developing income-producing real estate
properties associated with the delivery of healthcare services
throughout the United States. As of March 31, 2004, the Company had
investments of approximately $1.7 billion in 228 real estate
properties or mortgages, totaling approximately 11.8 million square
feet. The Company's portfolio was comprised of six major facility
types, located in 30 states. The Company provided property
management services to approximately 5.2 million square feet
nationwide. 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 a 10-K filed with the SEC by
Healthcare Realty Trust for the year ended December 31, 2003.
Forward-looking statements represent the Company's judgment as of
the date of this release. The Company disclaims any obligation to
update forward-looking material. DATASOURCE: Healthcare Realty
Trust Incorporated CONTACT: Bethany Mancini, Corporate
Communications of Healthcare Realty Trust Incorporated,
+1-615-269-8175 Web site: http://www.healthcarerealty.com/
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