Physicians Realty Announces Pricing of $500.0 Million of 2.625% Senior Unsecured Notes Due 2031

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 $500.0 million aggregate principal amount of 2.625% senior unsecured notes due 2031 (the “Notes”). The closing of the offering is expected to occur on October 13, 2021, 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 $495.7 million. The Operating Partnership intends to use the net proceeds of the offering to repay outstanding indebtedness, including indebtedness under its unsecured credit facility and indebtedness on certain properties in the pending Landmark portfolio acquisition 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 PNC Capital Markets 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 27, 2020. Copies of the prospectus supplement and accompanying prospectus may be obtained from the Commission’s website at www.sec.gov or by calling: J.P. Morgan Securities LLC collect at [phone]; Credit Agricole Securities (USA) Inc. at [phone]; or PNC Capital Markets LLC at [phone]. 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 June 30, 2021, owned approximately 97.6% of the partnership interests in the Operating Partnership.