Healthpeak Properties has agreed to buy Physicians Realty Trust in a $2.64 billion all-stock deal that would help the healthcare properties operator bring hospitals and physicians’ offices into its portfolio, Reuters reports.
Under terms of the deal, each share of Physicians Realty Trust will be converted into 0.674 of a newly issued Healthpeak share, leaving Healthpeak shareholders with about 77% of the combined firm, the companies said Monday.
The new entity is expected to own 52 million square feet worth of healthcare properties across the United States, including laboratories and outpatient medical delivery centers. As of Dec. 31, Physicians owned about 277 total properties while Healthpeak had about 450. Read more.
