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Physicians Realty Trust
("the Company"), a self-managed
healthcare properties REIT, announced today that the Company, its operating
partnership and certain subsidiaries, entered into the Third Incremental
Commitment Agreement and Fourth Amendment (the "Third Incremental Commitment
Agreement") to the existing Credit Agreement dated August 29, 2013 with
Regions Bank, as Administrative Agent (the "Credit Agreement"). Under this
agreement, the Company's operating partnership is acting as borrower and the
Company and subsidiaries are acting as guarantors. Subject to certain
conditions precedent, the Third Incremental Commitment Agreement increases
the borrowing capacity under the Credit Agreement's senior secured revolving
credit facility from $140 million to $200 million. All other material terms
of the Credit Agreement remain substantially unchanged. Under the existing
Credit Agreement and subject to satisfaction of certain conditions,
including additional lender commitments, the Company's operating partnership
has the option to increase the borrowing capacity under the revolving credit
facility to up to $250 million.
"Working with our lenders, we have further enhanced our financial
flexibility in order to position Physicians Realty Trust to capitalize on
the robust pipeline of investment opportunities we have built through our
strong relationships," stated John T. Thomas, CEO of Physicians Realty
Trust. "We appreciate the continued support of our banking group and the
confidence they have demonstrated in our team. Coupled with our recent
capital raise, the increased credit line gives the Company increased
flexibility to seek out high quality assets and increase our FFO as we work
to provide shareholders with long-term value."
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