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Medical Properties Trust has entered a $1.2-billion partnership with Macquarie Asset Management involving eight MA hospitals.

Medical Properties Trust, Macquarie Asset Management Reach $1.2B Agreement for MA Hospital Portfolio

Medical Properties Trust, Inc., has completed the previously announced transaction with Macquarie Infrastructure Partners V, a private fund managed by Macquarie Asset Management to form a partnership in which a MAM-controlled subsidiary has acquired a 50% interest in a portfolio of eight MA hospitals owned by MPT.

CBRE served as equity recapitalization and debt financing advisor; the international team included Keith Harris, Lee Asher, Chris Bodnar, Ryan Lindsley, Jordan Selbiger and James Millon.

MPT’s investment basis of roughly $1.2 billion, the approximate $600 million gain on real estate, and collected cash rent and interest of more than $475 million over the course of five-plus years combine to calculate an approximate unlevered internal rate of return of roughly 14%.

Including non-recourse secured debt, total cash proceeds to MPT were approximately $1.3 billion, virtually all of which was used to repay debt.

“Hospitals are essential, long-lived assets that are critical to any functioning community, and these attributes drive a resilient operating environment and investment profile characteristic of other infrastructure assets,” said Karl Kuchel, CEO of Macquarie Infrastructure Partners.


Inside The Story

Medical Properties Trust

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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