(Bloomberg) -- Healthcare Realty Trust Inc. is buying Healthcare Trust of America Inc., bringing together two of the largest medical-office building owners in a transaction with an enterprise value of about $17.6 billion.

Shareholders of Healthcare Trust of America will receive $35.08 a share, according to a statement Monday. The new company will have a pro forma equity market capitalization of about $11.6 billion, the two firms said.

Healthcare Realty’s management team will lead the combined company, with Todd Meredith as chief executive officer and Kris Douglas as chief financial officer. The new company will operate with the Healthcare Realty name and be based in Nashville.  

“We believe all shareholders will benefit from the company’s expanded national footprint from HR’s Seattle portfolio to HTA’s Boston portfolio,” Meredith said in the statement.

The combined real estate investment trust will have 727 properties totaling 44 million square feet (4.1 million square meters) and own the largest portfolio of properties on or adjacent to hospital campuses, according to the statement.  

(Updates with details from statement.)

©2022 Bloomberg L.P.