{"id":1003825887,"date":"2008-07-09T12:00:00","date_gmt":"2008-07-09T20:00:00","guid":{"rendered":"https:\/\/64.70.41.235\/2008\/07\/09\/mpt-to-nab-trio-of-new-hospitals-for-60m\/"},"modified":"2022-12-04T01:12:30","modified_gmt":"2022-12-04T09:12:30","slug":"mpt-to-nab-trio-of-new-hospitals-for-60m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/mpt-to-nab-trio-of-new-hospitals-for-60m\/","title":{"rendered":"MPT to Nab Trio of New Hospitals for $60M"},"content":{"rendered":"

Medical Properties Trust Inc. (MPT) has provided a $60 million financing package for three Southern California hospital campuses acquired recently by Prime Healthcare Services Inc. of Victorville, Calif. Prime acquires distressed hospitals and turns them around. The financing package provided for 100 percent of the price of the hospitals. It is expected that the transaction will be converted into a sale-leaseback within 30 days. Under the terms of that transaction, MPT will take back the loans, allocate the $60 million among the three facilities and issue triple net leases on each–calling for rents equivalent to 10.5 percent of the $60 million purchase price over a 10-year period. \u201cOur cap rate on the transaction will be 10.5 percent, which reflects the current environment for hospital real estate,\u201d an MPT spokesperson told CPN today. The transaction also illustrates how acquisition terms in the hospital industry have improved, Edward Aldag, Jr., MPT\u2019s chairman, president and CEO said in a prepared statement. MPT invests in hospital real estate across the United States. The company currently owns 48 properties, including 12 properties in Southern California operated by Prime. MPT pursues a real estate strategy of acquiring, developing and leasing healthcare facilities to operators under long-term, triple-net leases that require tenants to bear most of the costs associated with the property, including taxes, maintenance and capital expenses.<\/p>\n","protected":false},"excerpt":{"rendered":"

Medical Properties Trust Inc. (MPT) has provided a $60 million financing package for three Southern California hospital campuses acquired recently by Prime Healthcare Services Inc. of Victorville, Calif. Prime acquires distressed hospitals and turns them around. The financing package provided for 100 percent of the price of the hospitals. It is expected that the transaction…<\/p>\n","protected":false},"author":1314,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1003825887","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"\nMPT to Nab Trio of New Hospitals for $60M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/mpt-to-nab-trio-of-new-hospitals-for-60m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MPT to Nab Trio of New Hospitals for $60M\" \/>\n<meta property=\"og:description\" content=\"Medical Properties Trust Inc. (MPT) has provided a $60 million financing package for three Southern California hospital campuses acquired recently by Prime Healthcare Services Inc. of Victorville, Calif. Prime acquires distressed hospitals and turns them around. The financing package provided for 100 percent of the price of the hospitals. 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