BIRMINGHAM, Ala.--()--Medical Properties Trust, Inc. (NYSE: MPW) announced today that it is investing $50 million in healthcare real estate in the San Diego, California market. With the investment announced today, MPT has invested $141 million in 2007.
“We are excited to continue to finance Prime’s growth and its entry into the San Diego market”
The real estate investment is in the campus of Paradise Valley Hospital, operated by Prime Healthcare Systems, MPT’s largest tenant. The new investment includes a sale/leaseback and a loan collateralized by real estate in equal amounts of $25 million. Terms of the financing are similar to other recent transactions, including annual rate escalations equal to the increase in the Consumer Price Index beginning in January 2008.
“We are excited to continue to finance Prime’s growth and its entry into the San Diego market,” said Edward K. Aldag, Jr., MPT’s Chairman, President and CEO. “With this transaction, we have completed more than 70% of our full year target of acquiring at least $200 million of healthcare real estate assets in 2007 and we believe that we will achieve that full year target by as early as mid-year.”
Paradise Valley Hospital, located in National City, has been in service for more than 102 years. The campus includes an acute care hospital, three fully leased medical office buildings and an outpatient pavilion with campus-wide square footage of approximately 440,000.
About Medical Properties Trust, Inc.
Medical Properties Trust, Inc. is a Birmingham, Alabama 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. These facilities include inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers and other single-discipline healthcare facilities, such as heart hospitals, orthopedic hospitals and cancer centers.
The statements in this press release that are forward looking are based on current expectations and actual results or future events may differ materially. Words such as “expects,” “believes,” “anticipates,” “intends,” “will,” “should” and variations of such words and similar expressions are intended to identify such forward-looking statements, which include statements including, but not limited to, the amount of acquisitions in 2007 and the timing of the acquisitions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results of the Company or future events to differ materially from those expressed in or underlying such forward-looking statements, including without limitation: national and economic, business, real estate and other market conditions; the competitive environment in which the Company operates; the execution of the Company’s business plan; financing risks; the Company’s ability to attain and maintain its status as a REIT for federal income tax purposes; acquisition and development risks; potential environmental and other liabilities; and other factors affecting the real estate industry generally or healthcare real estate in particular. For further discussion of the facts that could affect outcomes, please refer to the “Risk Factors” section of the Company’s Form 10-K for the year ended December 31, 2006. Except as otherwise required by the federal securities laws, the Company undertakes no obligation to update the information in this press release.

