The report states that the combination improves Healthcare Realty’s asset and geographic diversification by adding new growth markets. However, it dilutes the multitenant, on-campus exposure. Fitch expects the issuer will manage to a higher financial policy after merger close.
The transaction is valued at around $11 billion and is structured as a reverse merger where Healthcare Trust of America acquired Healthcare Realty. The combined company will operate as Healthcare Realty Trust and be managed by the Healthcare Realty team.
