Hunton Andrews Kurth Advises Healthcare Realty Trust in $18 Billion Combination with Healthcare Trust of America

Hunton Andrews Kurth LLP advised Healthcare Realty Trust Incorporated in its planned combination with Healthcare Trust of America, a $7.75 billion deal that will create one of the nation’s largest owners of medical office buildings.

In a cash and stock transaction announced Feb. 28, Healthcare Trust of America shareholders will realize a total implied value of $35.08 per HTA share upon closing. With an enterprise value of nearly $18 billion, the company created by the reverse merger will retain the Healthcare Realty name and will be the largest pure-play medical office building REIT, with 727 properties totaling 44 million square feet, nearly double the square footage of the next-largest U.S. MOB portfolio. HTA shareholders will own 61% of the combined company; HR shareholders will own 39%.

The Hunton Andrews Kurth team advising Healthcare Realty was led by James A. Kennedy II and James V. Davidson and included Steven M. Haas, John J. Ogilby, Jordan G. Sisco, Gabriel M. Lopez, Lee Davis, Kate Saltz and Enyonam O.K. Enninful.

Other team members assisting in the deal included Kendal A. Sibley, Thomas W. Ford Jr., Daniel Martinez and Tim Strother for tax matters; Daniel M. Campbell, Aaron J. Carroll, Jessica N. Vara, Christopher W. Hasbrouck, Carter M. Tatum and Sara M. Galloway for real estate; Eric J. Nedell for lending services; Scott L. Austin and Jordan S. Latham for employee benefits; Ryan A. Glasgow and Tyler S. Laughinghouse for labor; and Dan J. Jordanger for environmental.

Hunton Andrews Kurth has extensive experience advising on significant REIT M&A deals, including representation of Pebblebrook Hotel Trust in its $5.1 billion takeover of LaSalle Hotel Properties, Industrial Logistics Properties Trust in its $4 billion acquisition of Monmouth Real Estate Investment Corp., Service Properties Trust in its $2.4 billion acquisition of Spirit MTA REIT’s property portfolio, and Capstead Mortgage Corp. in its $1.07 billion merger with Franklin BSP Realty Trust, Inc.