BIRMINGHAM, Ala., Jun 17, 2010 (BUSINESS WIRE) --Medical Properties Trust, Inc. (NYSE: MPW) announced today that it has
acquired the real estate of three inpatient rehabilitation hospitals in
Texas for an aggregate purchase price of $74 million. The facilities,
which are located in the Houston, Dallas and Austin metropolitan areas,
are operated by and leased to affiliates of Reliant Healthcare Partners.
The leases, which have initial terms expiring in 2033, provide for
initial cash returns of 9.7% and periodic escalation of up to 1.67% on
an annualized basis. Each lease may, subject to conditions, be renewed
by the operator for two terms of 10 years each.
"We are excited to begin a relationship with Reliant Healthcare, who
operates hospitals that are state-of-the-art and located in excellent
markets," said Edward K. Aldag, Jr., MPT's Chairman, President and CEO.
"We are already exploring opportunities to finance additional Reliant
hospitals, which when considered with other properties in our
acquisition pipeline, reaffirm our optimism about strong growth in our
property portfolio."
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a Birmingham, Alabama based
self-advised real estate investment trust formed to capitalize on the
changing trends in healthcare delivery by acquiring and developing
net-leased healthcare facilities. These facilities include inpatient
rehabilitation hospitals, long-term acute care hospitals, regional acute
care hospitals, ambulatory surgery centers and other single-discipline
healthcare facilities, such as heart hospitals and orthopedic hospitals.
For more information, please visit the Company's website at www.medicalpropertiestrust.com.
The statements in this press release that are forward looking are
based on current expectations and actual results or future events may
differ materially. Words such as "expects," "believes," "anticipates,"
"intends," "will," "should" and variations of such words and similar
expressions are intended to identify such forward-looking statements.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results of the
Company or future events to differ materially from those expressed in or
underlying such forward-looking statements, including without limitation
the expected return on the investments on the properties located in
Richardson, Round Rock and Shenandoah, Texas.For further
discussion of the facts that could affect outcomes, please refer to the
"Risk factors" section of the Company's Form 10-K for the year ended
December 31, 2009, as amended, and as updated by our subsequently filed
Quarterly Reports on Form 10-Q and our other SEC filings. Except as
otherwise required by the federal securities laws, the Company
undertakes no obligation to update the information in this press release.
SOURCE: Medical Properties Trust
Medical Properties Trust, Inc.
Charles Lambert, 205-397-8897
Finance Director
clambert@medicalpropertiestrust.com