Healthpeak and Physicians Realty Trust Announce $21B Merger Deal in Real Estate Expansion
Healthpeak Properties and Physicians Realty Trust have announced an all-stock merger valued at approximately $21 billion. Under the terms of the agreement, Physicians Realty Trust shareholders will receive 0.674 shares of newly issued Healthpeak stock for each share held. The combined company will have a portfolio of 52 million square feet of properties, including 40 million square feet of outpatient medical properties in high-growth markets. The merger is expected to generate cost savings of at least $40 million by the end of the first year and up to $60 million by the end of the second year. The transaction is projected to be accretive to adjusted FFO per share for both companies.