Mortgage loan are substantially similar to the master lease. The nine facilities acquired are being leased to Steward pursuant to the original long-term master leaseĪgreement entered into in October 2016 that had an initial 15-year term with three 5-year extension options, plus annual inflation-based escalators. Protective rights consistent with a minority passive ownership interest, such as a limited right to approve certain extraordinary transactions. We have no management authority or control of Steward except for certain Mortgage loans on two acute care hospitals, and a $100 million minority equity contribution in Steward, for a combined investment of approximately $1.5 billion. Our investment in the portfolio includes the acquisition of eight acute care hospitals and one behavioral health facility for approximately $700 million, the making of $700 million in The portfolio is now operated by Steward Health Care System LLC (Steward), which separately completed itsĪcquisition of IASIS on September 29, 2017.
On September 29, 2017, we acquired from IASIS Healthcare LLC (IASIS) a portfolio of ten acute care hospitals and oneīehavioral health facility, along with ancillary land and buildings that are located in Arizona, Utah, Texas, and Arkansas.
#STEWARD HEALTH CARE SYSTEM FINANCIAL STATEMENTS PRO#
and Subsidiaries have been prepared to give pro forma effect to the acquisition, disposition and financing transactions described below:Īcquisition of IASIS Healthcare Hospital Portfolio
These unaudited pro forma condensed consolidated financial statements of Medical Properties Trust, Inc. UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
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