Medical Properties Trust Sells Majority Interest in Utah Hospitals

 Generates Approximately $1.1 Billion of Total Cash Proceeds to MPT

Brings Total Liquidity Transactions Year-to-Date to $1.6 Billion, or 80% of MPT’s Initial FY 2024 Target

Medical Properties Trust, Inc. (the "Company" or "MPT") (NYSE: MPW) today announced that it has sold its interests in five Utah hospitals to a newly formed joint venture (the "Venture") with an investment fund (the "Fund") affiliated with a leading multi-strategy, multi-billion dollar institutional asset manager with a proven track record in real estate investments. MPT has retained an approximate 25% interest in the Venture and the Fund purchased an approximate 75% interest for $886 million, fully validating MPT’s underwritten lease base of approximately $1.2 billion. Simultaneous with the closing of this sale transaction, the Venture placed new non-recourse secured financing, providing $190 million of additional cash to MPT based on its share of the proceeds and further confirming underwritten asset values.

https://finance.yahoo.com/news/medical-properties-trust-sells-majority-200500721.html