Medical Properties Trust has entered into an agreement with Macquarie Infrastructure Partners V (MIP V) to form a partnership pursuant to which a MIP V controlled subsidiary will acquire a 50 percent interest in a portfolio of eight Massachusetts-based general acute care hospitals currently owned by MPT and operated by Steward Health Care System (Steward). MIP V is an Americas-focused $6.9 billion unlisted infrastructure fund managed by Macquarie Asset Management (MAM). The transaction values the portfolio at approximately $1.78 billion.
Edward K. Aldag Jr., MPT’s chairman, president and CEO, said, “This first of its kind partnership with one of the largest infrastructure investors globally confirms the quality of this hospital portfolio and demonstrates the strength of MPT’s overall investment strategy and our ability to deliver value for our shareholders. This transaction’s portfolio valuation is a 48 percent increase over our original investment in these hospitals