In the Press
April 16, 2024

Goodwin Guides MPT In $1.1B Hospital Sale (Law360)

Medical Properties Trust Inc. has sold its majority stake in five Utah hospitals to a joint venture with an unnamed investment fund, in a $1.1 billion transaction advised by Goodwin. The Birmingham, Alabama-based MPT announced the sale that it plans to use the proceeds from the latest transaction to reduce its debt, including by paying off a $300 million Australian term loan due in 2024 and repaying debt from its revolving credit facility. The Utah sale means MPT is on track to beat its 2024 goal to free up $2 billion in liquidity. The Utah hospital transaction nets MPT $886 million, with the joint venture bringing the REIT a $190 million non-recourse secured loan that protects MPT's other assets and income if it defaults. The REIT will keep a 25% stake in the joint venture. MPT is represented by Manuel Lauredo, Yoel Kranz, Todd Pollock, Cecelia Lockner and Andrew Smith. More in Law360.