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Physicians Realty Trust Announces Acquisition Of Calko Medical Center, In Brooklyn, New York, For $81.5 Million

Sep 13, 2022•over 3 years ago

Acquiring Company

Physicians Realty Trust

Acquired Company

Maimonides Medical Center

OtherNon ProfitHealth Care

Description

Physicians Realty Trust (NYSE:DOC) (the “Company”), through a joint venture with Dallas, Texas based MedProperties Realty Advisors, LLC (“MedProperties”) is proud to announce the closing of the acquisition of Calko Medical Center. This Class-A, free-standing facility, built in 2013, contains 85,567 rentable square feet, anchored by Maimonides Medical Center and physicians associated with Maimonides, and is 100% leased and occupied. The Company owns 90% of the joint venture, with MedProperties owning the remaining 10%. The stabilized cash yield on the investment is 5.5%.

Company Information

Company

Physicians Realty Trust

About

Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. The Company invests in real estate that is integral to providing high quality healthcare. The Company conducts its business through an UPREIT structure in which its properties are owned by Physicians Realty L.P., a Delaware limited partnership (the “Operating Partnership”), directly or through limited partnerships, limited liability companies or other subsidiaries. The Company is the sole general partner of the Operating Partnership and, as of June 30, 2021, owned approximately 97.6% of the partnership interests in the Operating Partnership (“OP Units”). Investors are encouraged to visit the Investor Relations portion of the Company’s website (www.docreit.com) for additional information, including annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended, press releases, supplemental information packages and investor presentations.

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed