Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BIRMINGHAM, AL-In the first of several closings with HCP Inc., Medical Properties Trust Inc. has acquired seven assets for about $138 million. Corporate chiefs say the remaining 14 properties will roll in this year, pushing the aggregate purchase to $220 million.

In Texas, Medical Properties Trust closed on Cleveland Regional Medical Center in Cleveland, and Cornerstone Hospital of Houston-Clear Lake in Webster. In South Carolina, Medical Properties Trust acquired Chesterfield General Hospital in Cheraw and Marlboro Park Hospital in Bennettsville. Rounding out the collection are Cornerstone Hospital of Bossier City, LA, Cornerstone Hospital of Southeast Arizona in Tucson and Mountain View Hospital in Idaho Falls, Idaho.

The Birmingham-based REIT issued a release March 17 stating it had entered into a definitive agreement to buy 21 healthcare facilities in 15 states from the New York City-based HCP. “The portfolio will increase the number of properties in our portfolio by 75%, substantially increase our tenant diversification with eight new well-known operators whom we believe to be of high quality as well as significantly improve our geographic footprint,” Edward K. Aldag Jr., chairman, president and CEO of Medical Properties, says in the release.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.