Milwaukee health care property company launches IPO

Physicians Realty Trust, a Milwaukee-based health care real estate company, today announced the pricing of its initial public offering of 10.4 million common shares at a price of $11.50 per share, for a total of approximately $109.8 million of net proceeds.

The shares will be listed on the New York Stock Exchange under the symbol “DOC.”

Former Wisconsin Governor and United States Health and Human Services (HHS) Secretary Tommy Thompson is a member of the company’s board of trustees.

Physicians Realty Trust, based at 250 E. Wisconsin Ave. in Milwaukee, was organized to acquire, selectively develop, own and manage health care properties that are leased to physicians, hospitals and health care delivery systems. The company intends to elect to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.

According to the company’s web site, the firm owns 19 care facilities. Two of these facilities – Firehouse Square in West Allis and Aurora Medical Office Building in Shawano – are located in Wisconsin.

John Thomas, Physicians Realty Trust’s president and chief executive officer, was the executive vice president of the Medical Facilities Group for Toledo, Ohio-based Health Care REIT Inc. from 2009 to 2012.

John Sweet Jr., the firm’s executive vice president and chief investment officer, is the managing director of the Ziegler Funds and was a co-founder of Indianapolis-based Windrose Medical Properties Trust.
Additional Physicians Realty Trust management team members are John Lucy, senior vice president and principal accounting and reporting officer, and Mark Theine, senior vice president of asset and investment management.
The offering is expected to close on July 24.

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