Last updated on May 15th, 2019 at 04:56 pm
Milwaukee-based real estate investment trust Physicians Realty Trust has raised $391 million in net proceeds from its public offering of 20 million common shares.
The company, founded in 2014, has grown rapidly by buying and leasing back medical facilities to health care providers.
PRT made the offering at $20.40 per share. The net proceeds will go to its operating partner, Physicians Realty L.P., in return for common units in the operating partnership. Physicians Realty L.P. will use the funds to pay off part of its debt, fund pending acquisitions, and for its corporate activities.
The REIT last week announced its plans to buy 18 medical office buildings for $735 million; and another seven medical office facilities for $66 million.
