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Stock Market & Financial Investment News

News Breaks
May 19, 2014
16:21 EDTDOCPhysicians Realty Trust files to sell 9.5M common shares of beneficial interest
The company will contribute the net proceeds of this offering to its operating partnership in exchange for common units in its operating partnership. The company’s operating partnership intends to use the net proceeds of the offering to repay borrowings under the company’s senior secured revolving credit facility and the balance, if any, for general corporate and working capital purposes, funding possible future acquisitions and development activities. BofA Merrill Lynch, KeyBanc Capital Markets and Wunderlich Securities are serving as joint book-running managers for the offering, BMO Capital Markets and Stifel are serving as co-lead managers for the offering, and Janney Montgomery Scott, Regions Securities, Comerica Securities, Compass Point, J.J.B. Hilliard, W.L. Lyons, LLC, RBS Securities and Ziegler are serving as co-managers for the offering.
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January 15, 2015
08:35 EDTDOCUpdate: Physicians Realty Trust 16.5M share Secondary priced at $16.40
The deal size was increased to 16.5M shares from 15M shares. KeyBanc, Morgan Stanley, RBC Capital, BofA/Merrill and BMO Capital acted as joint book running managers for the offering.
06:56 EDTDOCPhysicians Realty Trust 15M share Secondary priced at $16.40
KeyBanc, Morgan Stanley, RBC Capital, BofA/Merrill and BMO Capital acted as joint book running managers for the offering.
January 14, 2015
07:03 EDTDOCPhysicians Realty Trust files to sell 15M common shares
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07:02 EDTDOCPhysicians Realty Trust announces new acquisitions, new LOI
Physicians Realty Trust announced the closing of $81.7M of investments in medical office facilities during November and December 2014. The company invested more than $552M in medical real estate during 2014. The closings included the previously announced Carle Danville Clinic and Middletown medical office building acquisitions as well as three newly announced transactions. The company also announced the execution of a non-binding letter of intent with The Davis Group and an equity investor working with The Davis Group to acquire a 96% or greater interest in a portfolio of 7 medical office facilities located in the Minneapolis-St. Paul Metropolitan area and one additional medical office facility located in Jamestown, North Dakota. The purchase price for the acquisition of the portfolio of properties is approximately $116.3M, payable in a combination of cash, common units or proposed new preferred units in the operating partnership of the company, such relative amounts to be elected and determined by the respective property sellers at or prior to closing of a definitive agreement, plus the assumption of approximately $5.8M of property-related indebtedness encumbering one of the facilities. The company’s investment will exceed $100M. The portfolio is 98% leased and the average age of 7 of the buildings is approximately 2 years, with one other building located on the campus of the Fairview Health System hospital campus in Edina, Minnesota, which was built in 1979. The company previously announced that it entered into three separate purchase agreements with an aggregate value of $89.5M. The company continues to work with the seller of each of these assets and expects the investments will be completed in the near future.

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