{"id":11963,"date":"2024-07-03T12:11:19","date_gmt":"2024-07-03T17:11:19","guid":{"rendered":"https:\/\/1reason.com\/re\/healthcare-realty-trust-provides-update-on-capital-allocation-progress\/11963\/"},"modified":"2024-07-04T07:11:19","modified_gmt":"2024-07-04T12:11:19","slug":"healthcare-realty-trust-provides-update-on-capital-allocation-progress","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/healthcare-realty-trust-provides-update-on-capital-allocation-progress\/11963\/","title":{"rendered":"Healthcare Realty Trust Provides Update on Capital Allocation Progress"},"content":{"rendered":"<div> To date, the Company has contributed 10 properties to the KKR JV that have generated $227 million of proceeds. The Company expects to contribute additional properties to the KKR JV that will bring total proceeds in excess of $300 million. Beyond the initial property contributions, KKR has committed up to an additional $600 million of capital to increase the potential value of the JV to $1 billion. Healthcare Realty will retain a 20% interest and manage the JV, as well as continue to oversee day-to-day operations and leasing of the properties.  <\/p>\n<p>Separate from the KKR JV, the Company has additional transactions under contract and letters of intent that are expected to generate further proceeds of more than $300 million by early August. Proceeds from the KKR JV as well as additional transactions are expected to be used to repurchase shares on a leverage neutral basis. The Company has repurchased shares totaling over $175 million since April 1, 2024.<\/p>\n<p>\u201cWe are making progress on our near-term capital allocation priorities,\u201d stated Todd Meredith, President and CEO. \u201cCombined with operational momentum, our capital allocation execution is on track to improve dividend coverage and accelerate FFO growth.\u201d<\/p>\n<p><strong>About Healthcare Realty <\/strong><\/p>\n<p>Healthcare Realty is a real estate investment trust (REIT) that owns and operates medical outpatient buildings primarily located around market-leading hospital campuses. The Company selectively grows its portfolio through property acquisition and development. As the first and largest REIT to specialize in medical outpatient buildings, Healthcare Realty\u2019s portfolio includes nearly 700 properties totaling over 40 million square feet concentrated in 15 growth markets. Additional information regarding the Company can be found at www.healthcarerealty.com.<\/p>\n<p>Ron Hubbard<br \/>Vice President, Investor Relations<br \/>P: 615.269.8290<\/p>\n<table align=\"center\" style=\"border-top: solid black 1pt;border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\" \/><\/tr>\n<\/table>\n<p><em>In addition to the historical information contained within, the matters discussed in this press release may contain forward-looking statements that involve risks and uncertainties. These risks are discussed in filings with the Securities and Exchange Commission by Healthcare Realty, including its Annual Report on Form 10-K for the year ended December 31, 2023 under the heading \u201cRisk Factors,\u201d and in its Quarterly Reports filed thereafter and in the Company\u2019s other SEC filings. Forward-looking statements represent the Company\u2019s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.<\/em><\/p>\n<p><img src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" class=\"lazyload\" data-src=\"https:\/\/ml.globenewswire.com\/media\/YTUwMWFiNTEtZWQ2Yi00MzhiLTk2YzQtYWEyYWMwODQzNjM0LTEwMTg0ODE=\/tiny\/Healthcare-Realty-Trust-Incorp.png\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div>\n<p align=\"center\">$227 million of proceeds from contributions to KKR JV<\/p>\n<p align=\"center\">Repurchased shares totaling over $175 million<\/p>\n<p>NASHVILLE, Tenn., June 03, 2024 (GLOBE NEWSWIRE) &#8212; Healthcare Realty Trust Incorporated (NYSE:HR) announced in early May that it had entered into a strategic joint venture with KKR (\u201cKKR JV\u201d) to own and invest in quality medical outpatient buildings.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/11963"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=11963"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/11963\/revisions"}],"predecessor-version":[{"id":11975,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/11963\/revisions\/11975"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=11963"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=11963"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=11963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}