Milwaukee-based Physicians Realty Trust and Denver-based Healthpeak Properties Inc. both received approval from shareholders for their planned merger, a deal that valued the combined company at $21 billion when first announced in October.
Around 95.3% of Physicians Realty Trust shares were voted in favor of the deal and around 97.4% of Healthpeak shares were voted in favor.
The two companies, both of whom own and manage health care properties, expect the deal to be completed on March 1. The combined company will go forward under the Healthpeak name but keep the Physicians Realty Trust stock ticker of “DOC.”
Healthpeak shareholders will own around 77% of the combined company and Physicians Realty Trust shareholders will have 23%.
The company will be based in Denver but will maintain Physicians Realty Trust’s office in Milwaukee. Physicians Realty Trust is currently headquartered in The Renaissance Building, which it owns and is located at 309 N. Water St. in the Historic Third Ward.
Physicians Realty Trust had 104 full-time employees as of Dec. 31.
