Healthpeak Properties Inc. and Physicians Realty Trust have agreed to merge in a deal valued at approximately $21 billion.
The combined company will operate under the Healthpeak brand and will be headquartered in Denver, Colorado.
The deal is expected to close in the first half of 2024, subject to approval by the shareholders of both companies.
The merger is part of a larger trend in the REIT sector, where companies are seeking to add scale through strategic deals.
The merger will create a combined company with a diversified healthcare real estate portfolio.
Healthpeak Properties Inc. and Physicians Realty Trust have agreed to merge in a deal valued at approximately $21 billion. The merger, announced on October 30, 2023, is part of a larger trend in the real estate investment trust (REIT) sector, where companies are seeking to add scale through strategic deals. The merger will create a combined company with a diversified healthcare real estate portfolio. The deal is expected to close in the first half of 2024, subject to customary closing conditions, including approval by the shareholders of both companies.
The merger agreement was unanimously approved by the boards of directors of both companies. The combined company will operate under the Healthpeak brand and will be headquartered in Denver, Colorado. The merger is expected to provide significant benefits to shareholders of both companies, including enhanced scale, improved portfolio diversification, and potential cost synergies. The deal is also expected to strengthen the combined company's balance sheet and provide greater financial flexibility.
The merger is part of a larger trend in the REIT sector, where companies are seeking to add scale through strategic deals. The deal between Healthpeak and Physicians Realty is one of several major deals announced in the sector in recent months, with total deal value reaching approximately $7.9 billion.
The deal is expected to close in the first half of 2024.
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The deals are part of a larger trend of consolidation in the real estate investment trust industry.
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