Medical Properties To Acquire 11 Post-Acute Facilities In Germany For $244 Mln

(RTTNews) - Medical Properties Trust, Inc. (MPW) Thursday announced a definitive agreement with leading German rehabilitation hospital operator RHM Klinik - und Altenheimbetriebe GmbH & Co. KG to acquire 11 facilities in Germany for approximately 184.0 million euros, or $244.7 million.

Under the terms of the transaction, MPT will acquire the real estate assets of 11 post-acute facilities located throughout Germany and lease them back to the operator, RHM, in a 27-year master lease structure.

"This investment will allow MPT and its shareholders to benefit from the stable German economy, favorable demographic trends and the operational expertise of RHM, all of which we expect will help drive FFO growth, " said Edward Aldag, Jr., Chairman, President and CEO of Medical Properties Trust.

While the U.S. continues to be core market for investments, the company intends to add a new layer of diversity to its portfolio and significantly increase its acquisition pipeline opportunities.