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Physicians Realty Trust pays $47M for 3 properties

Physicians Realty Trust said in its second-quarter earnings release that since June 30, it bought three properties totaling 150,164 square feet in Rockwall, Texas, and Indianapolis for about $47.3 million.

In Rockwall, the healthcare real estate investment trust closed its purchase of a 97.5% stake in a 56,832-square-foot medical office facility on the campus of the Texas Health Presbyterian Hospital for $24.0 million.

In Indianapolis, it completed its purchase of a two-building portfolio totaling 93,332 square feet for $23.3 million. The assets are 100% leased to Community Health Network under a 16-year absolute net master lease.

In the second quarter, it purchased two operating healthcare properties with 50,215 net leasable square feet for $23.3 million and sold two properties totaling 52,943 square feet for $12.5 million.

The company raised net proceeds of $17.9 million through the issuance of 971,000 shares under its at-the-market program between April 1 and April 11.

During the second quarter, the REIT recognized $9.4 million of lost cash and straight-line rental revenue at its three LifeCare Holdings LLC master-leased LTACH facilities and the Foundation El Paso Surgical Hospital.