- Healthcare Realty Trust ( NYSE: HR ) said Wednesday it completed $1.14B of asset sales and joint venture contributions since July at a 4.86% cap rate.
- The REIT generated net proceeds of $1.03B from the transactions after accounting for its JV interest as well as closing-related prorations and capital adjustments.
- Healthcare Realty ( HR ) has additional properties under contract to sell for over $100M, which are expected to close by the end of February.
- The $1.13B asset sale term loan used for the merger-related special dividend had a balance of $423M at September 30.
- With Q4 completed sales of $350M and expected sales of more than $100M during Q1, the REIT fully repaid the asset sale term loan at year-end.
- Read why SA contributor Rida Morwa believes Healthcare Realty ( HR ) is a deeply-discounted recession-resistant business .
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Healthcare Realty Trust closes $1.14B of asset sales, JV contributions since July