Macquarie Asset Management, a global financial services group, has acquired a 50% stake in Medical Properties Trust.
Medical Properties Trust’s portfolio of eight Massachusetts-based hospitals is valued at $1.78 billion. The transaction is expected to generate $1.3 billion for Medical Properties Trust. Medical Properties Trust plans to use the funds to repay debt and fund its new $950 million inpatient facility.
Steward Health Care operates the properties and has a lease through 2041. Medical Properties Trust, a real estate investment trust, has sought an investment partner for roughly a year.
“This transaction's portfolio valuation is a 48% increase over our original investment in these hospitals made in 2016, and the compelling value creation reflects the strength of MPT's underwriting process, which allows our team to identify operators and strategies that are likely to result in long-term and sustained improvement in operating results," said Medical Properties Trust CEO Edward Aldag.