The acquisition includes 78 properties, a total of about 6.1 million square feet of leasable area, and approximately 17 acres of developmental land.
The $2.7 billion total value includes $2.35 billion for 64 properties and $400 million for 14 properties under development. Thirty-one of the 78 properties, worth $1.3 billion, are subject to rights of first refusal or offer, which, if exercised, may reduce the size of the acquisition or delay the closing.
As part of the transaction, Duke will require HTA to accept seller financing worth $330 million to be paid in three annual principal payments of $110 million beginning in 2018.
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