8-K
Healthcare Realty Trust Inc (HR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 26, 2024 (August 26, 2024)
Healthcare Realty Trust Incorporated
(Exact name of registrant as specified in its charter)
| Maryland | 001-35568 | 20-4738467 | ||||
|---|---|---|---|---|---|---|
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||
| 3310 West End Avenue, Suite 700 | Nashville, | Tennessee | 37203 | (615) | 269-8175 | |
| --- | --- | --- | --- | --- | --- | --- |
| (Address of Principal Executive Office and Zip Code) | (Registrant’s telephone number, including area code) | |||||
| www.healthcarerealty.com | ||||||
| --- | ||||||
| (Internet address) |
(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading symbol(s) | Name of each exchange on which registered |
|---|---|---|
| Class A Common Stock, $0.01 par value per share | HR | New York Stock Exchange |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter):
| ☐ | Emerging growth company |
|---|
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
| ☐ | |
|---|---|
| Item 8.01 | Other Events. |
| --- | --- |
Joint Venture Update Press Release
On August 26, 2024, Healthcare Realty Trust Incorporated (the “Company”) issued a press release providing an update on its strategic joint venture with KKR. A copy of this press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in its entirety.
| Item 9.01 | Financial Statements and Exhibits. |
|---|
(d) Exhibits.
| 99.1 | Joint ventureupdatepress release, datedAugustex991kkrjvupdate.htm26, 2024. |
|---|---|
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Healthcare Realty Trust Incorporated | ||
|---|---|---|
| Date: August 26, 2024 | By: | /s/ J. Christopher Douglas |
| Name: J. Christopher Douglas | ||
| Title: Executive Vice President - Chief Financial Officer |
Document
Exhibit 99.1
Ron Hubbard
Vice President, Investor Relations
P: 615.269.8290
News Release
HEALTHCARE REALTY TRUST EXPANDS KKR JOINT VENTURE
KKR JV approaching $500 million in value with new asset contributions
NASHVILLE, Tennessee, August 26, 2024 - Healthcare Realty Trust Incorporated (NYSE:HR) today announced it has contributed $118 million of additional properties to its joint venture with KKR, generating approximately $94 million of proceeds. The value of the JV is now approaching $500 million. The Company and KKR are continuing to explore additional acquisitions for the JV, including the potential contribution of more Healthcare Realty properties.
As previously disclosed in July, the Company also has additional asset sales and JV transactions under contract or LOI that are expected to increase proceeds to over $1 billion. The majority of these transactions are expected to be completed in the third quarter, with proceeds expected to fund accretive, leverage neutral share repurchases and existing capital commitments.
“The expansion of our joint venture with KKR shows continued progress towards our goal of generating more than $1 billion of proceeds from asset sale and JV transactions,” stated Todd Meredith, President and CEO. “Our existing joint venture relationships are providing us with proceeds in the current market environment and alternative sources of growth capital over the longer term.”
About Healthcare Realty
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’s portfolio includes nearly 675 properties totaling approximately 40 million square feet concentrated in 15 growth markets. Additional information regarding the Company can be found at www.healthcarerealty.com.
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Exhibit 99.1
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 “Risk Factors,” and in its Quarterly Reports filed thereafter and in the Company’s other SEC filings. Forward-looking statements represent the Company’s judgment as of the date of this release. The Company disclaims any obligation to update forward-looking statements.
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