Medical Properties Trust, Inc. Announces 96% June Collections and Completion of Circle Health Lease
Retrieved on:
Monday, June 22, 2020
Medical Properties Trust, Inc. (the Company or MPT) (NYSE: MPW) today provided an update on June rent and loan payment collections and announced, as expected, the completion of its 1.5B lease agreement with UK-based hospital operator Circle Health.
Key Points:
- Medical Properties Trust, Inc. (the Company or MPT) (NYSE: MPW) today provided an update on June rent and loan payment collections and announced, as expected, the completion of its 1.5B lease agreement with UK-based hospital operator Circle Health.
- As expected, the 8.9% GAAP yield on MPTs master lease to Circle Health became effective concurrent with the finalization of an amendment introducing a 2% minimum annual cash rent escalator to the full and extended terms of the agreement.
- MPT began to recognize the related additional straight-line rent on June 16.
- Medical Properties Trust, Inc. is a self-advised real estate investment trust formed in 2003 to acquire and develop net-leased hospital facilities.