Physicians Realty Trust on Dec. 20 completed the acquisition of 14 medical office buildings across eight states.
Four details:
1. The properties were acquired from Landmark Healthcare Facilities for $750 million and are expected to deliver a first-year unlevered cash yield of 4.9 percent.
2. The combined medical properties, which are 95 percent leased, span more than 1.4 million square feet.
3. Seventy-five percent of the aggregate leased space is leased to health systems or their subsidiaries.
4. John Thomas, president and CEO of Physicians Realty Trust, said the transaction establishes 10 new "health system relationships for future investment opportunities," and the company will partner with Landmark "on future opportunities to develop medical office facilities."