MPT Announces More Than $1 Billion In New Real Estate Investments, Including 40 Additional Hospitals In Germany and Others in the U.S.
Building on the success of its Western European acquisitions over the past year, Medical Properties Trust, Inc. has announced a definitive agreement to acquire the real estate assets of 40 hospitals in Germany from privately-held MEDIAN Kliniken Group for approximately €705 million (or, $900 million, based on exchange rates as of 10/20/14).
“This is an important transaction because it significantly increases our asset base to approximately $4.5 billion, and builds on our recent entry into the attractive Western European market,” said MPT Chairman, President and CEO Edward K. Aldag, Jr.
In addition to the MEDIAN acquisitions, MPT also has announced approximately $155 million in other commitments and investments.
These include three acute care hospitals in the U.S. (located in Alabama, Texas and West Virginia) with an aggregate value of approximately $74 million, plus three additional rehabilitation hospitals in Germany with an aggregate value of approximately $81 million (based on agreed pricing of €64 million) to be leased to RHM Kliniken, a current tenant.
The three German facilities are owned by affiliates of Waterland Private Equity, the expected future majority owner of MEDIAN.
With these transactions, MPT’s commitments year-to-date now stand at approximately $1.4 billion, the highest amount the company has ever invested in a single year.
“As we increase our exposure to the positive European market dynamics, we will also maintain our core investment focus on the United States,” Mr. Aldag said.