Largest U.S. Hospital Landlord Reports $664M Loss, Plans To Sell Assets The nation’s largest hospital landlord, Medical Properties Trust, on Wednesday revealed its losses from struggling tenant Steward Health Care are deeper than previously reported, and it is lending the operator more money as it tries to right the ship. The REIT recorded $772M in write-offs and impairment charges primarily linked to Steward, it said in its fourth-quarter earnings release, and it said it agreed to provide another $37.5M in loans to Steward to keep its largest tenant operating.
That comes after MPT said in January it recorded $350M in write-offs related to Steward, lent the operator $60M and hired a restructuring specialist, an announcement that ignited concerns over MPT’s financial health and business practices.MPT is working to shore up its finances and pay off its debts by generating $2B… Read the full story here. |