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Three CT Hospitals Scheduled for Acquisition for Approximately $457M
Birmingham, AL-based Medical Properties Trust, Inc., has entered into definitive agreements for the $457-million sale of three CT hospitals to Prospect Medical Holdings, the assets’ the current lessee.
According to the Medical Properties Trust website, Prospect currently operates Waterbury Hospital in Waterbury, Rockville General Hospital in Vernon and Manchester Memorial Hospital in Manchester.
Separately, Yale New Haven Health has agreed to acquire the hospital operations from Prospect in a contemporaneous transaction.
Terms of the agreements establish an aggregate sale price of approximately $457 million, the approximate amount MPT paid for the hospitals in August 2019; the Prospect lessees have since made timely payments of all rent required under the leases to MPT totaling approximately $104 million.
Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities. The company owns 430 facilities and 44,000 beds in 10 countries and across four continents.
- ◦Sale/Acquisition
