Physicians Realty Trust: insider trades · United States · SEC (Form 4)

About Physicians Realty Trust

Physicians Realty Trust (NYSE: DOC) was a United States healthcare real estate investment trust focused on outpatient medical properties before it was folded into Healthpeak Properties following the merger completed on March 1, 2024. For investors in France, Belgium, and Switzerland, DOC is best understood as a pure-play healthcare real estate platform whose business model centered on acquiring, selectively developing, owning, and managing properties leased to physicians, hospitals, and healthcare delivery systems. The company was organized in April 2013, completed its IPO in July 2013, and was headquartered in Milwaukee, Wisconsin, United States. Its common shares traded on the NYSE under the DOC ticker. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1574540/000157454024000041/doc-20231231.htm?utm_source=openai)) Operationally, the company’s core asset class was medical office buildings, typically located on or near hospital campuses and tied to clinical care networks. That positioning gave Physicians Realty Trust a defensive profile within listed real estate, since these buildings are integral to patient access and provider workflows rather than discretionary retail demand. As of December 31, 2023, the consolidated portfolio included 278 healthcare properties across 32 states, totaling about 15.65 million net leasable square feet, with roughly 94% leased and a weighted average remaining lease term of approximately 5.1 years. Those metrics pointed to relatively stable cash flow visibility and a tenant base anchored in healthcare services. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1574540/000157454024000041/doc-20231231.htm?utm_source=openai)) The company’s competitive advantage came from scale in outpatient healthcare real estate, disciplined capital allocation, and long-standing relationships with health systems. A useful example is the Landmark portfolio acquisition completed in December 2021 for an aggregate investment of about $750 million. That transaction added 14 Class A medical office facilities in eight states, totaling 1,434,672 rentable square feet and 95% occupancy, with 75% of leased space tied to investment-grade health systems or their subsidiaries. This illustrates DOC’s focus on mission-critical assets and high-credit tenants, two features that typically support resilient rent collection in healthcare REITs. ([businesswire.com](https://www.businesswire.com/news/home/20211220005840/en/Physicians-Realty-Trust-Announces-Closing-of-the-Landmark-Portfolio-Acquisition-with-a-Total-Investment-of-%24750-Million)) The major recent corporate event was the merger with Healthpeak Properties. Healthpeak announced the deal was closed on March 1, 2024, and that the combined company would trade under the DOC ticker on the NYSE starting March 4, 2024. Healthpeak also said the integration was progressing ahead of schedule and estimated merger-related synergies of $40 million in 2024, with another $20 million or more possible by the end of 2025. For current market context, that means Physicians Realty Trust no longer exists as an independent listed issuer, but its outpatient medical office platform became part of a larger healthcare REIT with broader capital-market scale in the United States. ([sec.gov](https://www.sec.gov/Archives/edgar/data/765880/000110465924029661/tm247564d1_ex99-1.htm))