Milwaukee-based Physicians Realty Trust said it has spent $234 million on medical office building acquisitions in the first quarter, boosting its portfolio to more than $1 billion in assets.
The company, which went public less than two years ago, also said it would pay a dividend of 22 cents per share to stockholders on May 1.
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Physicians Realty Trust said it made nine acquisitions in the quarter, adding 23 properties to its portfolio of medical buildings. On March 31 the company closed on a $41 million purchase of five medical office buildings anchored by the University of Rochester Strong Memorial System in Rochester, New York.
On the same day, the real estate company also wrapped its $14.6 million acquisition of a 44,717 square foot medical office building in Avalon Park, Florida,which is anchored by Florida Hospital.
On March 27, the company also closed on a $6.5 million purchase of an office building in Milwaukee, where it plans to relocate its headquarters.
“We now own more than 4 million square feet of medical facilities in 22 states, more than 95 percent leased with 10 years of average lease term remaining,” said CEO John Thomas in a statement.
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