Business Context and Reporting Period
This Form 8-K is filed by Grubb & Ellis Healthcare REIT, Inc. (referred to in the request metadata as Healthcare Realty Trust Inc) for the reporting period ending June 30, 2008. The filing primarily discloses the completion of a real estate acquisition and related regulatory disclosures.
Key Financial Metrics
- Acquisition Price: $30,200,000 for the Renaissance Medical Centre in Bountiful, Utah.
- Financing Structure: $20,100,000 financed through the assumption of two existing loans; the remaining balance paid in cash.
- Transaction Fees: $906,000 (3% of the total purchase price) paid to the advisor and its affiliate.
- Other Metrics: The filing text does not provide clear values for revenue, profit, cash flow, margins, total debt, or liquidity positions beyond the specific transaction details.
Material Changes
The material change reported is the expansion of the company's property portfolio through the acquisition of the Renaissance Medical Centre from an unaffiliated third party, RTC Montainwest Medical Building, LLC, on June 30, 2008.
Outlook, Risks, and Management Commentary
Management announced the acquisition via a press release on July 3, 2008, which is incorporated as Exhibit 99.1. The filing notes that the information provided under Item 7.01 is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934. No specific forward-looking guidance, risk factors, or contingencies are detailed within the text of this specific 8-K form.
Investor Verification Checklist
- Verify the terms of the two assumed loans regarding interest rates, maturity dates, and covenants.
- Confirm the exact cash outflow required to cover the balance of the purchase price after debt assumption.
- Review the full text of the July 3, 2008 press release (Exhibit 99.1) for additional operational details on the Renaissance Medical Centre.
- Assess the impact of the $906,000 acquisition fee on the company's immediate cash position.