Healthcare Realty Trust Announces $338 Million of Fourth Quarter 2023 Asset Sales
January 08 2024 - 5:00PM
Healthcare Realty Trust Incorporated (NYSE:HR) today announced the
completion of $338 million of asset sales during the fourth quarter
of 2023 bringing full year additional dispositions to $656 million
at an average cap rate of 6.6%. The full year additional
dispositions resulted in proceeds of $597 million as well as $59
million of seller financing across three transactions, including
$14 million of seller financing in the fourth quarter. Proceeds
were used for general corporate purposes, including the funding of
development commitments and repayment of debt. The Company had no
outstanding balance on its revolving credit facility as of December
31, 2023.
The 2023 additional dispositions of $656 million do not include
the $112.5 million of asset sales in January 2023 that fully repaid
the July 2022 merger-related special dividend.
Healthcare Realty (NYSE: HR) is a real estate investment trust
(REIT) that owns and operates medical outpatient buildings
primarily located around market-leading hospital campuses. The
Company selectively grows its portfolio through property
acquisition and development. As the first and largest REIT to
specialize in medical outpatient buildings, Healthcare Realty’s
portfolio includes more than 700 properties totaling over 40
million square feet concentrated in 15 growth markets.
Additional information regarding the Company 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, 2022 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)
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