Healthcare Realty Trust Announces Full Year 2021 Acquisition and Disposition Activity
January 04 2022 - 8:00AM
Healthcare Realty Trust Incorporated (NYSE:HR) today announced
acquisition and disposition activity for the full year ended
December 31, 2021. The Company acquired 44 buildings in 38
transactions totaling 2.1 million square feet for $756 million at a
weighted average cap rate of 5.3%, exceeding the $700 million high
end of the Company’s most recent acquisitions guidance. In the
fourth quarter, the Company acquired 19 buildings in 16
transactions for $298 million, adding to the Company’s targeted
clusters in eight markets including Nashville, Denver, Los Angeles
and Austin.
During 2021, the Company's joint venture partner, TIAA, funded
$90 million in 12 buildings. For the full year, the Company sold 17
medical office buildings totaling 905,000 square feet for $188
million at a weighted average cap rate of 4.9%.
The Company currently has 14 buildings under letter of intent to
purchase for approximately $300 million that are expected to close
in the first half of 2022. Approximately half of this volume is
expected to be acquired through the joint venture with TIAA. The
Company also has approximately $100 million under letter of intent
to sell.
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, 2021, the Company was
invested in 245 real estate properties in 24 states totaling 17.4
million square feet and had an enterprise value of approximately
$6.1 billion, defined as equity market capitalization plus the
principal amount of debt less cash. The Company provided leasing
and property management services to 13.8 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 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, 2020
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.
Kara SmithInvestor Relations ManagerP:
615.269.8175
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