An announcement from Medical Properties (MPW) is now available.
Medical Properties Trust, Inc. and its operating partnership executed amendments to their credit facilities and sold interests in five Utah hospitals to a joint venture, generating $1.1 billion in cash proceeds. The transaction also included refinancing that contributed additional funds to the company. They retained a 25% stake in the venture, valued at $1.2 billion, while the Fund acquired a 75% interest. The lessee of the hospitals has an option to purchase the real estate at fair market value or the lease base, with the company providing conditional preferences to the Fund related to this potential sale.
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