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Stock Market & Financial Investment News

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May 29, 2014
08:33 EDTDOCPhysicians Realty Trust completes $21.4M in acquisitions
Physicians Realty Trust announced the closing of the purchase and leaseback of a single-tenant medical office building located in Jackson, Mississippi, from MSMOC Properties. The 44,269 square foot medical office building is 100% occupied by Mississippi Sports Medicine and Orthopaedics. MSMOC is the largest independent orthopedic group in the Jackson area, and represents about 30% of the area’s orthopedic surgeons. The total purchase price was $16.7M with a first year unlevered yield of 7.9%, with the physician owners taking approximately $1.9M worth of operating partnership units in the company’s operating partnership, Physician Realty bin exchange for their interest in the building, in addition to net cash proceeds. In addition, the company closed on the purchase of the Carmel Medical Pavilion located on the St. Vincent Health Carmel Campus in the Indianapolis suburb of Carmel, Indiana. The total purchase price was approximately $4.7M with a first year unlevered yield of 7.25%, with the owners of the building taking approximately $1.3M of the net proceeds in OPUs in exchange for their interest in the Carmel Medical Pavilion.
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August 13, 2014
08:31 EDTDOCPhysicians Realty Trust reports Q2 normalized FFO 17c, consensus 22c
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