MILWAUKEE – Physicians Realty
Trust on Wednesday reported a $1.4 million loss for the third
quarter, according to a company statement.
The Milwaukee-based operator of medical buildings loss compared
to $239,000 in net income during the year-earlier period.
“Following the successful completion of our initial public
offering in July, we immediately began putting the proceeds to
work and acquired five properties during the third quarter, and
one property subsequent to the end of the quarter resulting in
transactions totaling $118.2 million to date,” said John Thomas,
president and CEO. “In line with our strategy, all of these
properties were sourced through relationships with the providers
who deliver care in the facilities and are subject to long-term
leases, further enhancing our reliable and predictable future
income from these acquisitions.”
The third quarter included $756,000 in acquisition expenses,
which didn’t occur in the year-earlier period, and $1.3 million
in general and administrative expenses, compared to $104,000
from the same time, last year.
The company reported $3.7 million in revenue, a 19 percent
increase from $3.1 million.
“Looking ahead, with a strong balance sheet, conservative debt
structure and access to capital, we are well-positioned to take
advantage of attractive opportunities to further grow our
portfolio of healthcare facilities,” Thomas said. “In
particular, our focus will remain on markets with positive
underlying fundamentals and properties that have strong
healthcare provider anchor tenants or hospital affiliations, so
that we can provide reliable dividends and total shareholder