UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant To Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 17, 2010 (September 15, 2010)
HEALTHCARE REALTY TRUST INCORPORATED
(Exact Name of Registrant as Specified in Charter)
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| MARYLAND
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001-11852
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62-1507028 |
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(State or other jurisdiction
of incorporation)
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(Commission File
Number)
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(I.R.S. Employer
Identification No.) |
3310 West End Ave. Suite 700 Nashville, Tennessee 37203
(Address of principal executive offices) (Zip Code)
(615) 269-8175
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following provisions (see General
Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under
the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under
the Exchange Act (17 CFR 240.13e-4(c))
Item 2.06 Material Impairments
The information in Item 8.01 of this report is incorporated herein by reference in its
entirety.
Item 8.01 Other Events
Healthcare Realty Trust Incorporated (the “Company”) has identified six
properties for disposal, ranging from 12,000 to 35,000 square feet, which were acquired through
past portfolio transactions. On September 8, 2010, the Company closed the sale of the first of
these properties, a 25,000 square foot ambulatory surgery center located in Florida, which had a
net carrying value of $5.1 million as of August 31, 2010. The Company expects to realize a gain
on sale of approximately $4.6 million. In connection with its
planned disposal of these properties, the
Company determined on September 15, 2010, that the carrying value of the other five properties
would not likely be fully recoverable. While the Company expects to
recognize a $4.6 million gain
on sale of the Florida property, it also expects to record an aggregate impairment for the
remaining five properties of approximately $4.4 to $4.7 million in the third quarter of 2010. This
impairment would result in a total net investment of approximately $9.3 to $9.6 million for the five
properties, which are located in Arkansas, Florida, Maryland and Tennessee, and total 112,757 square feet in
the aggregate.
During the month of August, the Company completed three previously disclosed medical office
building acquisitions, totaling approximately $68 million. The Company acquired a 73,331 square
foot facility in Columbus, Ohio for $14.5 million, a 134,032 square foot facility in Avon, Indiana
for $23.3 million, and a pair of adjacent buildings in Denver, Colorado, totaling 112,155 square
feet, for $30.0 million.