Press Release August 27, 2015

Goodwin Procter Advises Medical Properties Trust on Combined $1.5 Billion Financing Transactions

A cross-practice team of Goodwin attorneys recently advised Medical Properties Trust (MPT), a public healthcare REIT, on a series of financings in connection with MPT’s €700 million acquisition of a portfolio of 35 healthcare facilities from MEDIAN Kliniken, a leading provider of post-acute and acute rehabilitation services in Germany, and MPT’s pending $900 million acquisition of Capella Healthcare, a private owner of 13 acute care and specialty hospital facilities in U.S. states.

The three financings Goodwin advised on in July and August included:

  • a $1.0 billion bridge facility commitment in connection with the Cappella acquisition;
  • common stock offering of 28.75 million shares for net proceed of approximately $337 million; and
  • public offering of €500 million of 4.0% senior notes due 2022.

Medical Properties Trust, Inc. is a Birmingham, Ala.-based self-advised real estate investment trust formed to capitalize on the changing trends in healthcare delivery by acquiring and developing net-leased healthcare facilities. MPT’s financing model allows hospitals and other healthcare facilities to unlock the value of their underlying real estate in order to fund facility improvements, technology upgrades, staff additions and new construction. Facilities include acute care hospitals, inpatient rehabilitation hospitals, long-term acute care hospitals, and other medical and surgical facilities.

The cross disciplinary team of Goodwin attorneys included a REIT capital markets team led by Yoel Kranz and James Barri, with assistance from Franklin Logan and David Perechocky, a leveraged finance team led by Mat Sibble and Milena Tantcheva, and a team led by Mark Kirshenbaum advising on tax issues.