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Healthcare Realty Trust Incorporated (NYSE:HR) reported a (loss) income of $(310.8) million for the first quarter of 2024. Normalized FFO per share was $0.39. The Company announced a $383 million JV with KKR at a 6.6% cap rate and expects more than $300 million in proceeds from additional transactions. They repurchased 3.0 million shares worth $41.7 million in April.
Healthcare Realty Trust Incorporated (NYSE:HR) has announced a strategic joint venture with KKR, where Healthcare Realty will contribute a seed portfolio valued at $383 million, resulting in $300 million in proceeds. KKR will commit up to $600 million more, potentially raising the total JV value to over $1 billion. The agreement involves Healthcare Realty contributing 12 properties to seed the JV, with KKR making an equity contribution equal to 80% of the property value. Healthcare Realty will retain a 20% interest and manage the JV. The joint venture aims to invest in quality medical outpatient buildings, with a focus on future acquisitions and additional contributions from Healthcare Realty. The announcement has been positively received by both companies, highlighting the strategic fit and long-term growth prospects.
Healthcare Realty Trust Incorporated (HR) announced a quarterly dividend of $0.31 per share payable on May 23, 2024, to Class A common stockholders of record on May 13, 2024. Eligible holders of the Company's OP Units will also receive a distribution of $0.31 per unit. HR is a REIT focusing on medical outpatient buildings and has a portfolio of nearly 700 properties in 15 growth markets.