BIRMINGHAM, Ala., Dec 21, 2010 (BUSINESS WIRE) --
Medical Properties Trust, Inc. (NYSE: MPW) today announced it has
acquired two free standing long-term acute care hospital (LTACH)
facilities and expects to acquire a third subject only to completion of
the assumption of an existing mortgage loan, all leased to and operated
by RehabCare, the nation's third largest operator of LTACHs, for $83.4
million.
"With the completion of the acquisition of these three properties, our
total investments announced so far in 2010 exceed $213 million at a
weighted average GAAP lease rate of approximately 10.5%," said Edward K.
Aldag, Jr., chairman, president and CEO of Medical Properties Trust,
Inc. "We are especially excited to add RehabCare, one of the nation's
leading post acute care hospital operators, to our portfolio."
MPT has completed the acquisition of Triumph Hospital Clear Lake, a
110-bed LTACH facility that opened in 2005, subject to a lease maturing
in 2025 with two five-year extension options; and Triumph Hospital
Tomball, a 75-bed LTACH facility that opened in August 2006, subject to
a lease that matures in 2026 with two five-year extension options. MPT
has also agreed to acquire the Northland LTACH Hospital located in
Kansas City, a 35-bed hospital that opened in April 2008 and has a lease
that expires in 2028. The Northland acquisition is expected to be
completed in January 2011 upon MPT's assumption of a $16.1 million
mortgage loan that has a fixed interest rate of 6.2% and matures in 2018.
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 capacity of the Company's tenants to meet the terms of
their agreements; annual Normalized FFO per share; the amount of
acquisitions of healthcare real estate, if any; the repayment of debt
arrangements; statements concerning the additional income to the Company
as a result of ownership interests in certain hospital operations and
the timing of such income;the restructuring of the Company's
investments in non-revenue producing properties; the payment of future
dividends, if any; completion of additional debt arrangements; and
additional investments; national and economic, business, real estate and
other market conditions; the competitive environment in which the
Company operates; the execution of the Company's business plan;
financing risks; the Company's ability to maintain its status as a REIT
for federal income tax purposes; acquisition and development risks;
potential environmental and other liabilities; and other factors
affecting the real estate industry generally or healthcare real estate
in particular. For further discussion of the factors 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, Inc.
Medical Properties Trust, Inc.
Charles Lambert, 205-397-8897
Finance Director
clambert@medicalpropertiestrust.com