Healthcare Realty Trust is preparing to sell $1.7B in assets, with proceeds from $1.1B of these divestitures funding the REIT's merger with Healthcare Trust of America.
HRT disclosed this week it is under contract with five counterparties to sell 27 properties worth a total of $807M in asset sales and joint venture transactions. The REIT also said it has letters of intent with three counterparties to sell 10 additional properties for $295M, all at a blended cap rate of 4.8%.
These transactions will close within 10 days of the completion of the $11B deal to merge HRT and Healthcare Trust of America (HTA), which is expected to close on July 20. The merged REIT will operate under the Healthcare Realty Trust name.
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