Healthcare Realty Trust and Baylor Health Care System Announce Building in Plano, Texas; Medical Office Facility to Accompany Baylor's New Medical Center

NASHVILLE, Tenn., and DALLAS -- Healthcare Realty Trust Incorporated and Baylor Health Care System in Dallas announced today that Healthcare Realty Trust has been selected to construct, own and manage a new medical office facility on the Baylor Medical Center campus in Plano, Texas, an outlying city of Dallas.

The 163,000-square-foot, seven-story facility will be built simultaneously with the new Baylor Medical Center at Plano, an acute care hospital with 96 inpatient beds and 32 outpatient beds. Healthcare Realty Trust will own and operate the $27.5 million medical office facility, which will be occupied by certain hospital services and physician tenants. Subject to the completion of project agreements and documentation, construction is expected to begin shortly with occupancy anticipated for late summer of 2004.

Baylor Health Care System, based in Dallas, Texas, is a not-for-profit, faith-based network of nine hospitals, 47 primary care centers and practices, eight rehabilitation clinics, eight senior health centers, 14 affiliated ambulatory surgery centers, and the Baylor Research Institute. One of the largest healthcare providers in Dallas-Fort Worth, Baylor Health Care System has more than 2,500 licensed beds, 15,000 employees, 3,300 physicians, and $1.9 billion in assets.

Healthcare Realty Trust is a real estate investment trust that integrates owning, managing and developing income-producing real estate properties associated with the delivery of healthcare services throughout the United States. The company's portfolio is comprised of nine major facility types, located in 29 states nationwide, and operated pursuant to contractual arrangements with 62 healthcare providers. The company has investments of approximately $1.6 billion in 223 real estate properties or mortgages, totaling approximately 11 million square feet. The company provides property management services to more than 5 million square feet nationwide.

Source: Healthcare Realty Trust Incorporated