Physicians Realty Trust Acquires Two New LifeCare Hospitals for $40M

Affiliates of Physicians Realty Trust have entered into and closed an agreement to acquire two long-term acute hospitals located in Pittsburgh, Pennsylvania and Fort Worth, Texas in exchange for a payment of approximately $40.0 million in cash.

The sellers are New LifeCare Hospitals of Pittsburgh, LLC and New LifeCare Hospitals of North Texas, LLC. The purchase price was funded through borrowings under the Company’s existing credit agreement with Regions Bank.

The acquired properties have no existing leasing history and occupy approximately 234,910 square feet combined.