MILWAUKEE—In just over 20 months since its initial public offering, Physicians Realty Trust has grown from $124 million to just over $1 billion in gross real estate assets. And in a very active first quarter, the healthcare real estate company invested another $234 million through 9 acquisitions of 23 properties located in 9 states. The collection of new properties contains 913,636 square feet of leasable space. In addition, the trust just purchased a general office building in Milwaukee that will serve as both an investment and its new headquarters.

“The Physicians Realty Trust Team has completed our busiest quarter yet, and we have achieved two very important milestones, furthering our commitment to building and managing our organization to deliver stable cash flow and outstanding total shareholder returns for the long term,” said John Thomas, president and chief executive officer, in a prepared statement. He did not return a call seeking additional comment.

Significant properties acquired in the first quarter include:

University of Rochester Strong Memorial Portfolio. On March 31, 2015, the trust closed on the purchase of a five-building, 149,949 square foot portfolio of medical office facilities located in Rochester, NY, for a total purchase price of $41 million. The University of Rochester Strong Memorial System anchors the portfolio, which is 91% occupied.

Avalon Park Florida Hospital MOB. On March 31, 2015, the trust acquired a 44,717 square-foot medical office facility in Avalon Park, FL, just north of Orlando, for a total purchase price of $14.6 million. Florida Hospital, which operates a women's health clinic in the facility and Neurorestorative, which operates a traumatic brain injury center, anchor the facility, which is 93% occupied.

Renaissance on Water Building. On March 27, 2015, the trust completed the acquisition of this approximately 100,000 square-foot general office building located in the historic Third Ward section of downtown Milwaukee for about $6.5 million. Tenants currently occupy 72% of its space. The company plans to relocate its headquarters from its current temporary office and occupy about 10% of the building.

“We anticipate that this historic and wonderful facility will produce quality investment returns for our shareholders and will be a valuable tool for retention and recruitment for our team as we continue to grow the company,” Thomas said. “We now own more than four million square feet of medical facilities in 22 states, more than 95% leased with 10 years of average lease term remaining. We believe we have established solid foundation for stable and increasing cash flow and future growth.”