Healthcare Realty Trust Inc. Q3 2008 Earnings Call Transcript

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2008-11-11 11:58:13.0

Tags: Call Transcript, Earnings, Healthcare Realty Trust Inc., Insurance, Financial Planning, Mergers & Acquisitions, Business Operations, Corporate Insurance, Finance, Investment, Seeking Alpha, Call Transcript, Earnings, Healthcare Realty Trust Inc., Insurance, Financial Planning, Mergers & Acquisitions, Business Operations, Corporate Insurance, Finance, Investment, Seeking Alpha

Question-and-Answer Session

Operator

(Operator Instructions). Our first question comes from Jerry Doctrow of Stifel Nicolaus. Your line is open.

Jerry Doctrow - Stifel Nicolaus

Thanks. Well, good morning, everybody.

David Emery

Good morning.

Jerry Doctrow - Stifel Nicolaus

I just had a couple things. What was the litigation that was in the quarter?

David Emery

That's the one that's been going on for a number of years regarding the HealthSouth derivative lawsuit kind of thing.

Jerry Doctrow - Stifel Nicolaus

Okay.

David Emery

Going on, and it was just a difference in insurance reimbursement with the insurance coverage.

Jerry Doctrow - Stifel Nicolaus

Lease-up, I think, Doug touched on this, but, we didn't see much movement in the lease-up percentages second quarter and third quarter. You're comfortable things are on track and it's just sort of lumpy leases or?

David Emery

Jerry, it's, after all these years it's not necessarily quarter-to-quarter. Just when you suspect that you're not making much traction, something comes up. As long as you have the good location and you've got the compelling kind of force behind it, in the end it works out. I don't think it's -- it is will that ever lease the system, usually a matter of time.

Jerry Doctrow - Stifel Nicolaus

You're comfortable with the progress that your target dates are fully leased-up?

David Emery

We've not seen anything to give us any indication that there's any slow up in interest or activity.

Jerry Doctrow - Stifel Nicolaus

Okay. And then, just a couple questions about sort of capital. I think if I understood what Doug was saying, you've got kind of $190 million of kind of acquisitions pending, some of which have assumed debt and then there's the 162, I think it is for Carolina, and Scott was saying that, since later in '09, you'll have 280 still available on the line, that 280 takes into account all of those acquisitions that Doug was talking about, as well as your asset sales?

David Emery

That's correct.

Doug Whitman

That 190 Jerry, we've already closed on a number of those so that's not future funding. Some of those have already been funded.

Jerry Doctrow - Stifel Nicolaus

Okay.

David Emery

No, the fundings that Scott gave you was the ins and outs and all of those things. We tried to do that to give everybody kind of a final number on the in because there are a lot of moving pieces.

 

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