Healthcare Realty Trust has sold two of its properties in Massachusetts and is preparing to unloading five other sites, including one in Tennessee.
Healthcare Realty owned just those two sites in the Bay State and last month received $14.6 million for them from the doctor group that leased both buildings. The company will recognize a $5.6 million gain on the deal.
The Nashville-based real estate investment trust also said that it plans to sell five medical office buildings, two each in Texas and Florida — the company’s two most important states — and a small building in Memphis. Two of the properties already are under contract for sale or in advanced stages of negotiations.
Healthcare Realty took a fourth-quarter, $5 million impairment charge on the sites and officials say they expect to complete their sales for a combined $7.5 million by the end of this year. The money from those transactions will help fund Healthcare Realty’s investments and for general corporate purposes.
Shares of Healthcare Realty (Ticker: HR ) are down about 1 percent in Monday afternoon trading. They’ve risen about 12 percent in the past three months.