Physicians Realty Announces Pricing of $350.0 Million of 3.950% Senior Unsecured Notes Due 2028

Physicians Realty Trust (NYSE:DOC) (the “Company”), a self-managed healthcare real estate company, announced today that its operating partnership, Physicians Realty L.P., a Delaware limited partnership (the “Operating Partnership”), priced an offering of $350.0 million aggregate principal amount of 3.950% senior unsecured notes due 2028 (the “Notes”). The closing of the offering is expected to occur on December 1, 2017, subject to customary closing conditions.

Net proceeds from the sale of the Notes, after deducting the underwriting discount and before deducting any fees and expenses of the Company and the Operating Partnership, are expected to be approximately $347.0 million. The Operating Partnership intends to use the net proceeds of the offering to repay borrowings under its unsecured credit facility and for general corporate purposes, including, without limitation, working capital and investment in real estate.

J.P. Morgan Securities LLC, Credit Agricole Securities (USA) Inc. and Jefferies LLC are serving as joint book-running managers for the offering.

The offering is being made pursuant to the Company’s and the Operating Partnership’s automatic shelf registration statement filed with the Securities and Exchange Commission (the “Commission”), which became effective on February 24, 2017. Copies of the prospectus supplement and accompanying prospectus may be obtained from the Commission’s website at or by calling: J.P. Morgan Securities LLC collect at (212) 834-4533; Credit Agricole Securities (USA) Inc. at (866) 807-6030; or Jefferies LLC at (877) 877-0696. Before you invest in the Notes, you should read the prospectus in such shelf registration statement, the prospectus supplement related to the offering and other documents incorporated by reference in the prospectus and the prospectus supplement for more complete information about the Company, the Operating Partnership and this offering.

This press release is not an offer to sell, nor a solicitation of an offer to buy the Notes, nor shall there be any sale of these Notes in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

About Physicians Realty Trust

Physicians Realty Trust is a self-managed healthcare real estate company organized to acquire, selectively develop, own and manage healthcare properties that are leased to physicians, hospitals and healthcare delivery systems. The Company invests in real estate that is integral to providing high quality healthcare. The Company conducts its business through an UPREIT structure in which its properties are owned by the Operating Partnership, directly or through limited partnerships, limited liability companies or other subsidiaries. The Company is the sole general partner of the Operating Partnership and, as of September 30, 2017, owned approximately 97.1% of the partnership interests in the Operating Partnership.

Forward-Looking Statements

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, “continue”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward looking statements may include statements regarding the Company’s strategic and operational plans, the Company’s ability to generate internal and external growth, the future outlook, anticipated cash returns, cap rates or yields on properties, anticipated closing of property acquisitions, and ability to execute its business plan. While forward-looking statements reflect our good faith beliefs, they are not guarantees of future performance. Forward looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. All forward looking statements in this press release, including statements regarding completion of the offering of the Notes and application of the net proceeds therefrom, are based on information available at the time those statements are made and/or management’s good faith belief as of that time with respect to future events, and are subject to various risks and uncertainties, not all of which are known to the Company and many of which are beyond the Company’s control, which could cause actual results to differ materially from such statements. These risks and uncertainties are described in greater detail in the Company’s filings with the Commission, including, without limitation, the Company’s annual and periodic reports and other documents filed with the Commission. Unless legally required, the Company disclaims any obligation to update any forward-looking statements after the date of this release, whether as a result of new information, future events or otherwise. For a description of factors that may cause the Company’s actual results or performance to differ from its forward-looking statements, please review the information under the heading “Risk Factors” included in the preliminary prospectus supplement and accompanying prospectus and the Company’s and the Operating Partnership’s combined Annual Report on Form 10-K for the fiscal year ended December 31, 2016, filed with the Commission on February 24, 2017, and in the Company’s and the Operating Partnership’s combined Quarterly Reports on Form 10-Q for the fiscal quarters ended March 31, 2017, June 30, 2017 and September 30, 2017, filed with the Commission on May 5, 2017, August 4, 2017 and November 3, 2017, respectively.


Physicians Realty Trust
John T. Thomas, 214-549-6611
President and CEO
Jeffrey N. Theiler, 414-367-5610
Executive Vice President and CFO

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