899749--2/22/2010--HEALTHCARE_REALTY_TRUST

related topics

{investment, property, distribution}

{loan, real, estate}

{cost, contract, operation}

{regulation, government, change}

{stock, price, share}

{capital, credit, financial}

The Company s revenues depend on the ability of its tenants and sponsors under its leases and financial support agreements to generate sufficient income from their operations to make loan, rent and support payments to the Company. If a healthcare tenant loses its licensure or certification, becomes unable to provide healthcare services, cannot meet its financial obligations to the Company or otherwise vacates a facility, the Company would have to obtain another tenant for the affected facility. If lenders under the Unsecured Credit Facility fail to meet their funding commitments, the Company s financial position would be negatively impacted. Many of the Company s medical office properties are held under long-term ground leases. These ground leases contain provisions that may limit the Company s ability to lease, sell, or finance these properties. If the Company is unable to promptly re-let its properties, if the rates upon such re-letting are significantly lower than expected or if the Company is required to undertake significant capital expenditures to attract new tenants, then the Company s business and results of operations would be adversely affected. The Company may incur impairment charges on its real estate properties or other assets. The Company may be required to sell certain properties to tenants or sponsors whose leases or financial support agreements provide for options to purchase. The Company may not be able to reinvest the proceeds from sale at rates of return equal to the return received on the properties sold. The Company may recognize asset impairment charges as a result of the exercise of a purchase option. Certain of the Company s properties are special purpose healthcare facilities and may not be easily adaptable to other uses. The Company is subject to risks associated with the development of properties. The Company may be unsuccessful in operating new and existing real estate properties. The Company s long-term master leases and financial support agreements may expire and not be extended. The market price of the Company s stock may be affected adversely by changes in the Company s dividend policy. Adverse trends in the healthcare service industry may negatively affect the Company s lease revenues and the values of its investments.

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899749--2/22/2010--HEALTHCARE_REALTY_TRUST_INC