20,000,000 Common Shares Sold at $20.40 Per
Share; Net Proceeds of Approximately $391.0 Million
Physicians Realty Trust (NYSE:DOC) (“the Company”), a
self-managed healthcare real estate company, announced today the
closing of its underwritten public offering of 20,000,000 common
shares of beneficial interest at a public offering price per share
of $20.40.
The Company will contribute the net proceeds of this offering to
Physicians Realty L.P., a Delaware limited partnership (the
“Operating Partnership”), in exchange for common units in the
Operating Partnership. The Operating Partnership intends to use the
net proceeds of the offering to repay a portion of the outstanding
indebtedness under its revolving credit facility, to fund its
pending acquisitions, and for general corporate purposes,
including, without limitation, working capital and investment in
real estate.
KeyBanc Capital Markets, BofA Merrill Lynch, BMO Capital
Markets, Morgan Stanley, Raymond James, RBC Capital Markets and
Stifel acted as book-running managers for the offering. Wunderlich,
Capital One Securities, Regions Securities LLC, Ramirez & Co.,
Inc., Compass Point, J.J.B. Hilliard, W.L. Lyons, LLC, Credit
Agricole CIB, PNC Capital Markets LLC, BB&T Capital Markets,
Comerica Securities, Synovus Securities, Inc. and The Huntington
Investment Company acted as co-managers for the offering.
The offering was being made pursuant to the Company’s automatic
shelf registration statement filed with the Securities and
Exchange Commission (the “Commission”), which became effective on
February 24, 2017. Copies of the final prospectus supplement and
accompanying prospectus may be obtained from
the Commission's website at www.sec.gov or by
contacting: KeyBanc Capital Markets, 127 Public Square, 4th Floor,
Cleveland, Ohio 44114, Attn: Equity Syndicate, or by telephone at
(800) 859-1783; BofA Merrill Lynch, NC1-004-03-43, 200 North
College Street, 3rd Floor, Charlotte, NC, 28255-0001, Attn:
Prospectus Department, or by email at
dg.prospectus_requests@baml.com; BMO Capital Markets Corp.,
Attention: Syndicate Department, 3 Times Square, 25th Floor, New
York, New York 10036 or by telephone at (800) 414-3627 or by email
at bmoprospectus@bmo.com; or Morgan Stanley at 180 Varick Street,
2nd Floor - New York, NY 10014, Attn: Prospectus Department.
This press release is not an offer to sell, nor a solicitation
of an offer to buy securities, nor shall there be any sale of these
securities in any state or jurisdiction in which the offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of such state or
jurisdiction.
About Physicians Realty Trust
Physicians Realty Trust is a self-managed healthcare real estate
company organized to acquire, selectively develop, own and manage
healthcare properties that are leased to physicians, hospitals and
healthcare delivery systems. The Company invests in real estate
that is integral to providing high quality healthcare. The Company
conducts its business through an UPREIT structure in which its
properties are owned by the Operating Partnership, directly or
through limited partnerships, limited liability companies or other
subsidiaries. The Company is the sole general partner of the
Operating Partnership and, as of March 31, 2017, owned
approximately 96.6% of the partnership interests in our Operating
Partnership (“OP Units”).
Investors are encouraged to visit the Investor Relations portion
of the Company’s website (www.docreit.com) for additional
information, including annual reports on Form 10-K, quarterly
reports on Form 10-Q, current reports on Form 8-K and amendments to
those reports filed or furnished pursuant to Section 13(a) or 15(d)
of the Securities Exchange Act of 1934, as amended, press releases,
supplemental information packages and investor presentations.
Forward-Looking Statements
This press release contains statements that are “forward-looking
statements” within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements may be identified by the use of words such as
“anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”,
and “project” and other similar expressions that predict or
indicate future events or trends or that are not statements of
historical matters. These forward-looking statements may include
statements regarding the Company’s strategic and operational plans,
the Company’s ability to generate internal and external growth, the
future outlook, anticipated cash returns, cap rates or yields on
properties, anticipated closing of property acquisitions, and
ability to execute its business plan. While forward-looking
statements reflect our good faith beliefs, they are not guarantees
of future performance. Forward-looking statements should not be
read as a guarantee of future performance or results, and will not
necessarily be accurate indications of the times at, or by, which
such performance or results will be achieved. Forward-looking
statements are based on information available at the time those
statements are made and/or management’s good faith belief as of
that time with respect to future events, and are subject to risks
and uncertainties that could cause actual performance or results to
differ materially from those expressed in or suggested by the
forward looking statements. These forward-looking statements are
subject to various risks and uncertainties, not all of which are
known to the Company and many of which are beyond the Company’s
control, which could cause actual results to differ materially from
such statements. These risks and uncertainties are described in
greater detail in the Company’s filings with the Commission,
including, without limitation, the Company’s annual and periodic
reports and other documents filed with the Commission. Unless
legally required, the Company disclaims any obligation to update
any forward-looking statements after the date of this release,
whether as a result of new information, future events or otherwise.
For a description of factors that may cause the Company’s actual
results or performance to differ from its forward-looking
statements, please review the information under the heading “Risk
Factors” included in each of the Company’s Annual Report on
Form 10-K for the fiscal year ended December 31, 2016
filed by the Company with the Commission on February 24, 2017 and
the Company's Quarterly Report on Form 10-Q for the quarterly
period ended March 31, 2017 filed by the Company with the
Commission on May 5, 2017.
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version on businesswire.com: http://www.businesswire.com/news/home/20170705005967/en/
Physicians Realty TrustJohn T. ThomasPresident and CEO(214)
549-6611jtt@docreit.comorJeffrey N. TheilerExecutive Vice President
and CFO(414) 367-5610jnt@docreit.com
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