Medical building investor Physicians Realty Trust Inc. on Monday
said it’s selling 8.3 million shares of common stock and using
the proceeds to repay debt.
The Milwaukee-based company said the offering is expected to
close on Thursday. The company had granted the underwriters a
30-day option to purchase up to an additional 1,245,000 shares
to cover any overallotments.
In exchange for units in its operating partnership, Physicians
Realty Trust will contribute the offering’s proceeds to its
operating partnership. Including possible future acquisitions
and development activities, the operating partnership plans to
use the cash to repay $48.4 million in debt and for working
Oppenheimer & Co. and Janney Montgomery Scott are serving as
co-lead managers, and Compass Point, J.J.B. Hilliard, W.L. Lyons
L.L.C., and Ziegler are co-managers for the offering. Wunderlich
Securities, Inc. and KeyBanc Capital Markets are serving as
joint book-running managers.