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Medical Properties Trust (NYSE:MPW) rose 1.2% in after hours trading after confirming the healthcare REIT agreed to sell its Australian real estate investments operated by Healthscope to affiliates of HMC Capital.
Cash proceeds from the transaction are expected pay the A$1.2 billion term loan used to fund the 2019 acquisition of the 11 hospitals leased to Healthscope, according to a statement. The deal is expected to be completed in the second half of the year.
Medical Properties Trust (MPW) gained 3.8% in regular trading on Wednesday after an Australian Financial Review report that the REIT had agreed to sell Healthscope to HMC.
“The sale of this portfolio by means of a competitive process, in the midst of an extraordinary disruption to global capital markets, demonstrates the breadth and resilience of demand for hospital infrastructure assets,” Edward Aldag, CEO of MPW said in the statement.
Goldman Sachs is acting as exclusive financial advisor and Arnold Bloch Leibler is acting as legal advisor to Medical Properties Trust (MPW).
On Tuesday Truist almost halved its price target on Medical Properties (MPW) to a street low $8 from $14.
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Image and article originally from seekingalpha.com. Read the original article here.