Physicians Realty Trust has completed more than $688 million of investments in medical real estate so far this year and the Third Ward company’s gross national real estate assets now exceed $1.5 billion based on purchase price.
Physicians Realty Trust is a self-managed REIT that focuses on the acquisition, development, and ownership and management of health care properties throughout the country that are leased to physicians, hospitals and health care delivery systems.
The company started in July 2013 and is led by CEO John Thomas and former Wisconsin Governor Tommy Thompson, who chairs the board of trustees. Since its inception, Physicians Realty Trust has grown more than 1,110 percent in gross assets, from 19 properties in 10 states valued at roughly $124 million to 133 properties in 23 states valued over $1.5 billion.
As of October 13, the company had 5.3 million leasable square feet of real estate, which is approximately 95.5 percent leased with a weighted average lease term remaining of 9 years.
In Wisconsin, the company owns four buildings: Aurora Health Care Medical Office Building in Green Bay; Firehouse Square in West Allis; Renaissance Surgical Center in Oshkosh and the recently-purchased Renaissance Building on Water Street.
The Renaissance Building functions as a general office to serve as both an investment and headquarters for the company which has experienced internal growth from five employees to 25 employees. Physicians Realty Trust currently occupies the fifth floor but has plans to expand as it continues to grow.
“As the demand for health care services continue to increase and the company continues to
focus on the growth and quality of its cash flow and dividend coverage, the company is tremendously excited about our growth trajectory and our team’s execution and ability to source real estate investment opportunities leased to premium healthcare providers,” Thomas said in a written statement.