North Cypress Medical Center Trades for $148M
Medical Properties Trust Inc. (MPT) closed on its sale of North Cypress Medical Center, a 139-bed, acute-care hospital in Cypress, TX, in the northwest Houston metro. Hospital Corporation of America (HCA) paid $148 million to buy the property at 21214 Northwest Fwy.
The deal includes four freestanding emergency centers in Barker Cypress, Spring Cypress, Fairfield, and on SH 249.
The Birmingham, AL-headquartered seller anticipates using its proceeds to make additional investments in U.S. hospital real estate, and for additional corporate purposes. According to MPT’s Edward Aldag Jr., the medical center “was founded by local physicians who wanted to create a sophisticated, upscale experience for patients in the Houston community.”
MPT broke ground on the 310,485-square-foot hospital in 2005, “the same year that Medical Properties Trust became a publicly-traded company,” Aldag said.
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