Medical Properties Trust closes sale of remaining Australia facilities
Medical Properties Trust has closed on the sale of its four remaining Australian facilities to HMC Capital at a 5.7 percent cash cap rate for around A$470 million ($305 million), which will be used to reduce the balance of MPT’s revolving credit facility and to increase cash availability.
Medical Properties Trust is a self-advised REIT formed in 2003 to acquire and develop net-leased hospital facilities. From its inception in Birmingham, Ala., the company has grown to become one of the world’s largest owners of hospital real estate with 444 facilities and approximately 44,000 licensed beds as of June 30, 2023. Since the end of the second quarter, the company has sold seven facilities with approximately 1,000 beds and now owns properties in nine countries across three continents.