Physicians Realty Trust Shakes Up C-Suite After $1.28 Billion Year
Physicians Realty Trust (NYSE: DOC) has started to shake up its C-suite following a “record year for growth,” according to a company press release.
The Milwaukee, Wisconsin-based health care real estate investment trust (REIT) completed about $1.28 billion worth of investments in 2016, with the addition of 11 medical office buildings acquired in the fourth quarter of the year for $225 million.
The end of 2016 marked the end of an era for Physicians Realty Trust, as the company’s founder, Executive Vice President and Chief Investment Officer John W. Sweet retired, effective Dec. 31, 2016.
Deeni Taylor, who has worked at Physicians Realty Trust since October 2015, was promoted on Jan. 1 to the role of executive vice president-chief investment officer.
“Fortunately, John has agreed to continue to support us from time to time with specific projects and potential investments, while he also fulfills his responsibilities on the Wheeler Board of Directors and other business and community interests he pursues,” Physicians Realty Trust President and CEO John Thomas said of Sweet in the press release.
Physicians Realty Trust is creating additional positions within the organization, as well.
The company recently appointed Daniel M. Klein to the brand new position of senior vice president-deputy chief investment officer. In this role, Klein is expected to help drive the company’s new investment activities with doctors, real estate developers and health systems. Klein, who has worked for Physicians Realty Trust since 2016, will report directly to John Thomas while working alongside Deeni Taylor.
The REIT currently has almost 11 million rentable square feet of medical office space that’s more than 95% leased by approximately 1,100 medical service provider and health system tenants, Thomas noted in the press release. The company plans to divulge more information about all of its fourth quarter acquisitions and an update on its progress with the Catholic Health Initiatives investments with its earnings release on Feb. 24.
Written by Mary Kate Nelson