NASHVILLE, Tenn., July 12 /PRNewswire-FirstCall/ -- Healthcare Realty
Trust Incorporated (NYSE: HR) announced it has signed a definitive purchase
agreement to acquire from Baylor Health Care System of Dallas and its
affiliates 20 medical office facilities totaling more than one million square
feet. The facilities are located on or near the hospital campuses affiliated
with Baylor Health Care System in the Dallas-Fort Worth area. Total
consideration to be paid for the 20 properties is approximately $133 million.
These acquisitions are expected to close in the third quarter of this year and
are subject to closing conditions customary to these types of transactions.
Baylor Health Care System, based in Dallas, Texas, is a not-for-profit,
faith-based network of 11 hospitals, more than 70 primary care centers and
practices, eight rehabilitation clinics, nine senior health centers, 19
affiliated ambulatory surgery centers, and the Baylor Research Institute. One
of the largest health care providers in Dallas-Fort Worth, Baylor Health Care
System has more than 2,500 licensed beds, 15,000 employees, 3,300 affiliated
physicians, and $2.0 billion in assets.
Healthcare Realty Trust is a real estate investment trust that integrates
owning, managing and developing income-producing real estate properties
associated with the delivery of healthcare services throughout the United
States. As of March 31, 2004, the Company had investments of approximately
$1.7 billion in 228 real estate properties or mortgages, totaling
approximately 11.8 million square feet. The Company's portfolio was comprised
of six major facility types, located in 30 states. The Company provided
property management services to approximately 5.2 million square feet
nationwide.
In addition to the historical information contained within, the matters
discussed in this press release may contain forward-looking statements that
involve risks and uncertainties. These risks are discussed in a 10-K filed
with the SEC by Healthcare Realty Trust for the year ended December 31, 2003.
Forward-looking statements represent the Company's judgment as of the date of
this release. The Company disclaims any obligation to update forward-looking
material.
SOURCE Healthcare Realty Trust Incorporated
-0- 07/12/2004
/CONTACT: Bethany Mancini, Corporate Communications of Healthcare Realty
Trust Incorporated, +1-615-269-8175/
/Web site: http://www.healthcarerealty.com /
(HR)
CO: Healthcare Realty Trust Incorporated; Baylor Health Care System
ST: Tennessee, Texas
IN: RLT HEA MTC
SU: RLE
KM-DL
-- CLM034 --
2515 07/12/200410:32 EDThttp://www.prnewswire.com