NASHVILLE, Tenn., July 12 /PRNewswire-FirstCall/ -- Healthcare Realty Trust Incorporated announced it has signed a definitive purchase agreement to acquire from Baylor Health Care System of Dallas and its affiliates 20 medical office facilities totaling more than one million square feet. The facilities are located on or near the hospital campuses affiliated with Baylor Health Care System in the Dallas-Fort Worth area. Total consideration to be paid for the 20 properties is approximately $133 million. These acquisitions are expected to close in the third quarter of this year and are subject to closing conditions customary to these types of transactions.
Baylor Health Care System, based in Dallas, Texas, is a not-for-profit, faith-based network of 11 hospitals, more than 70 primary care centers and practices, eight rehabilitation clinics, nine senior health centers, 19 affiliated ambulatory surgery centers, and the Baylor Research Institute. One of the largest health care providers in Dallas-Fort Worth, Baylor Health Care System has more than 2,500 licensed beds, 15,000 employees, 3,300 affiliated physicians, and $2.0 billion in assets.
Healthcare Realty Trust is a real estate investment trust that integrates owning, managing and developing income-producing real estate properties associated with the delivery of healthcare services throughout the United States. As of March 31, 2004, the Company had investments of approximately $1.7 billion in 228 real estate properties or mortgages, totaling approximately 11.8 million square feet. The Company’s portfolio was comprised of six major facility types, located in 30 states. The Company provided property management services to approximately 5.2 million square feet nationwide.
In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in a 10-K filed with the SEC by Healthcare Realty Trust for the year ended December 31, 2003. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking material.
Healthcare Realty Trust Incorporated
CONTACT: Bethany Mancini, Corporate Communications of Healthcare RealtyTrust Incorporated, +1-615-269-8175
Web site: http://www.healthcarerealty.com/