Healthcare Realty Announces January Asset Sales to Complete Funding of Merger-Related Special Dividend

Rhea-AI Summary

Healthcare Realty Trust (NYSE:HR) has completed asset sales totaling $112.5 million in January, generating net proceeds of $102.8 million after accounting for joint venture interest. Since July 2022, the company has raised $1.13 billion from asset sales and joint ventures, which fully funded a special dividend related to its merger paid in July 2022. The REIT focuses on owning and managing properties primarily for outpatient healthcare services across the U.S., with a portfolio exceeding 700 properties and over 40 million square feet of space.

Positive

• Generated $102.8 million in net proceeds from asset sales in January.
• Raised $1.13 billion since July 2022 from asset sales and joint ventures.
• Successfully funded the merger-related special dividend paid in July 2022.

Negative

• None.

NASHVILLE, Tenn., Jan. 31, 2023 (GLOBE NEWSWIRE) -- Healthcare Realty Trust Incorporated (NYSE:HR) today announced the completion of $112.5 million of asset sales in January for net proceeds of $102.8 million after accounting for HR’s joint venture interest. Since July 2022, the company has generated net proceeds of $1.13 billion from asset sales and joint venture transactions. These proceeds fully complete the funding of the merger-related special dividend that was paid in July 2022.

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing, financing and developing income-producing real estate properties associated primarily with the delivery of outpatient healthcare services throughout the United States. As of September 30, 2022, the Company was invested in over 700 real estate properties totaling more than 40 million square feet and provided leasing and property management services to over 35 million square feet nationwide.

Additional information regarding the Company, including this quarter's operations, can be found at www.healthcarerealty.com.

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 filings with the Securities and Exchange Commission by Healthcare Realty Trust, including its Annual Report on Form 10-K for the year ended December 31, 2021 under the heading “Risk Factors,” and as updated in its Quarterly Reports on Form 10-Q filed thereafter. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.

Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290

FAQ

What were the total asset sales by Healthcare Realty Trust in January 2023?

Healthcare Realty Trust completed asset sales totaling $112.5 million in January 2023.

How much net proceeds did Healthcare Realty Trust gain from its January 2023 asset sales?

The company generated net proceeds of $102.8 million from its asset sales in January 2023.

What is the total amount generated from asset sales since July 2022?

Since July 2022, Healthcare Realty Trust has generated $1.13 billion from asset sales and joint ventures.

How has Healthcare Realty Trust utilized the proceeds from asset sales?

The proceeds from asset sales fully funded the merger-related special dividend paid in July 2022.

What type of properties does Healthcare Realty Trust focus on?

Healthcare Realty Trust primarily owns and manages income-producing real estate properties associated with outpatient healthcare services.