Under the terms of the agreement, the company will operate as aseparate division of Duke and will be known as Bremner-DukeHealthcare Real Estate. Jim Bremner, Bremner Healthcare presidentand CEO, will join Bremner-Duke along with the company'sassociates. Bremner Healthcare's existing management structure willremain intact. The company currently manages more than 3.5 millionsf of healthcare facilities and has developed approximately $1billion in medical office buildings, outpatient surgery centers,oncology centers, orthopedic centers, wellness facilities andspecialty care hospitals.

In conjunction with its acquisition of Bremner Healthcare, Dukeis acquiring Bremner's remaining 50% interest in the healthcareproperties currently owned by a joint venture formed by Duke andBremner Healthcare in 2004. These properties consist of 784,000 sfin nine projects. The acquisition does not require shareholderapproval, according to Duke.

Both Duke and Bremner Healthcare expect the acquisition toprovide an opportunity for accelerated growth and increasedefficiencies in healthcare projects across the US. "CombiningBremner with the Duke organization will allow us to serve ourclients at a much higher level," Jim Bremner, president and CEO ofBremner Healthcare, says in a statement. Hospitals and physiciangroups throughout the country desire a partner with capitalstrength and local real estate expertise. Duke's local presence in19 cities provides us instant access to real estate professionalsin the growing healthcare markets."