1、2009Healthcare Realty TrustAnnual Report to ShareholdersHEALTHCAREREALTYSince its inception eighteen years ago,Healthcare Realty has sought stable investment returns through the ownership of medical real estate assets.Our strategy of investing in high-quality medical office and outpatient facilities
2、,which are generally located on or near major healthcare system campuses,has resulted in a portfolio that clearly differentiates Healthcare Realty from its peers.The relationships we have established through our acquisition and development expertise are strengthened by our in-house management and le
3、asing team,who are focused on the long-term needs of our medical tenants and healthcare systems,as well as those of the Company.Healthcare Realtys$2.3 billion portfolio is comprised primarily(87 percent)of outpatient medical office space.Even in the recent economic downturn,outpatient medical office
4、 facilities continue to demonstrate their stability and strength as a low-risk real estate asset class.Through the Companys efforts to identify high-growth markets and partner with leading healthcare systems,Healthcare Realty completed$194.4 million in acquisitions and developments in 2009,adding 75
5、7,588 square feet of space to the portfolio.The Company believes the prospects for additional investments are assuring,with future growth occurring through a balance of both acquisitions and developments.Even as concerns about the economy and healthcare reform generated uncertainty among physicians,
6、our portfolio of well-located,quality medical office facilities continued to benefit from stable occupancy-currently averaging 90 percent-and strong leasing,with rental rates on lease renewals increasing an average of six percent.On a macro level,healthcare jobs specifically,hospital-based and physi