Acquisitions

DENVER AND MILWAUKEE — Two healthcare REITs, Denver-based Healthpeak Properties (NYSE: PEAK) and Milwaukee-based Physicians Realty Trust (NYSE: DOC), have agreed to enter into an all-stock merger agreement that is valued at roughly $21 billion. Under the terms of the agreement, each share of Physicians Realty Trust common stock will be converted into 0.674 of a share of newly issued Healthpeak common stock. The combined entity will feature a portfolio of roughly 52 million square feet of healthcare assets. On a pro-forma basis, Healthpeak and Physicians Realty Trust shareholders will …

LOUISVILLE, Colo., and CARLSBAD, Calif. — Balfour Senior Living, based in Louisville, has become an affiliate of Kisco Senior Living, based in Carlsbad. Andy Kohlberg, the CEO and founder of Kisco, and Michael Schonbrun, the CEO and founder of Balfour along with co-founder and general counsel Susan Juroe, broke the news in a joint statement. Since their founding 30 years ago, the two luxury seniors housing companies have followed parallel paths. The combination of the two companies will be geographically complementary, according to Balfour and Kisco executives. The new entity …