MedicalProperties Trust Inc. closed on its $1.25 billion investment in anine-facility acute care hospital portfolio operated by Steward Health CareSystem LLC.
The transactionincluded real estate interests in the hospitals as well as an equity stake inSteward.
Medical Properties used proceeds from its common stockoffering andborrowings from its revolving credit facility to finance the transaction.
As part of the deal, certain Steward management team membersand Cerberus Capital ManagementLP affiliates committed to buy 10,344,828 shares of MedicalProperties' common stock. The stock purchase is set to close imminently.