Medical Properties Trust invests $1.75B in 24 hospitals

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Medical Properties Trust, a real estate investment trust, announced July 15 that it has entered into definitive agreements with two hospital operators and completed a third transaction.

MPT said the three deals involve 24 hospitals and a total investment of about $1.75 billion. The largest of the three transactions involves Los Angeles-based Prospect Medical Holdings and is expected to close in the second half of this year. Under that agreement, MPT will invest $1.55 billion in the real estate interests of 14 acute care hospitals and two behavioral health facilities operated by Prospect in California, Connecticut and Pennsylvania.

The other two transactions involve Kansas City, Mo.-based Saint Luke's Health System and Halsen Healthcare, which operates one hospital in Watsonville, Calif.

In June, MPT completed a $145 million investment in seven community hospitals operated by St. Luke's. MPT will invest $55 million in Halsen's hospital under an agreement that is expected to close in the second half of 2019.

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