NASHVILLE, Tenn., June 16, 2022 (GLOBE NEWSWIRE) — Healthcare Realty Trust Incorporated (NYSE: HR) (“Healthcare Realty” or the “Company”) today issued the following statement regarding the press release and presentation issued by Land & Buildings Investment Management, LLC on June 16, 2022:
Healthcare Realty remains focused on executing the combination with Healthcare Trust of America, Inc. (NYSE: HTA). The transaction brings together two of the largest owners of medical office buildings to create the preeminent, pure-play medical office building REIT. The combined company will have unmatched market scale in concentrated clusters, meaningful corporate and operational synergies, a larger development pipeline, and a strengthened balance sheet with enhanced liquidity and improved access to capital. The transaction is expected to be accretive through near-term expense synergies, with additional value from operational upside through scaled platforms.
Healthcare Realty regularly engages with shareholders and welcomes input that advances our goal of enhancing shareholder value. Based on numerous recent conversations with shareholders, including at NAREIT last week, Healthcare Realty believes there is widespread support for the strategic combination with HTA. Notably, Land & Buildings has not communicated with the Company to express its concerns since the transaction was announced more than three months ago on February 28.
Shareholders of record on June 10 will be able to vote on the transaction with HTA at the special meeting of Healthcare Realty shareholders on July 15. The transaction is expected to close on or around July 20, 2022, subject to customary closing conditions, including the approval of both Healthcare Realty and Healthcare Trust of America shareholders.
About Healthcare Realty Trust
Healthcare Realty Trust Incorporated (NYSE: HR) 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 March 31, 2022, the Company was invested in 263 real estate properties in 23 states totaling 17.9 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 14.8 million square feet nationwide.
The full content of this article is only available to paid subscribers. If you are an active subscriber, please log in. To subscribe, please click here: SUBSCRIBE