Two major healthcare real estate firms, Milwaukee, Wis.-based Physicians Realty Trust and Denver-based Healthpeak Properties, announced plans to merge in a deal valued at $21 billion.
The deal is expected to close in 2024 with the combined entity, named Healthpeak Properties, managing 52 million square feet of medical and lab space.
Healthpeak is currently valued at $16 billion with 475 properties, according to an Oct. 31 press release.
Physicians Realty Trust has 278 properties valued at $5 billion.