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DOC > SEC Filings for DOC > Form 8-K on 1-Apr-2014All Recent SEC Filings

Show all filings for PHYSICIANS REALTY TRUST



Entry into a Material Definitive Agreement, Completion of Acquisition or

Item 1.01. Entry into a Material Definitive Agreement.

On March 28, 2014, Physicians Realty Trust (the "Company") through subsidiaries of its operating partnership, Physicians Realty L.P., entered into and closed an Agreement of Sale and Purchase (the "Agreement") with New LifeCare Hospitals of Pittsburgh, LLC and New LifeCare Hospitals of North Texas, LLC (collectively, the "Sellers"). Pursuant to the Agreement, the Company acquired two long-term acute hospitals located in Pittsburgh, Pennsylvania and Fort Worth, Texas in exchange for a payment of approximately $40.0 million in cash to the Sellers. The purchase price was funded through borrowings under the Company's existing credit agreement with Regions Bank. In connection with the closing under the Agreement, a subsidiary of the Company entered into a new absolute net master lease covering the two acquired properties and a property previously acquired from affiliates of Sellers located in Plano, Texas. The acquired properties have no existing leasing history and occupy approximately 234,910 square feet combined.

A copy of the press release announcing the transaction is filed as Exhibit 99.1 to this report.

Item 2.01. Completion of Acquisition or Disposition of Assets.

The information set forth above under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.

Item 9.01. Financial Statement and Exhibits.

(d) Exhibit 99.1 is attached to this 8-K.

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