Comprising a $700-million sale-leaseback and a $700-million mortgage investment, the completion of the deal with Medical Properties Trust coincides with Steward Health Care’s merger with IASIS.
Sr. Luke’s Medical Center (pictured) and St. Luke’s Behavioral Health Center, both in Phoenix, are part of the IASIS portfolio that MPT has acquired.BIRMINGHAM, AL—Medical Properties Trust Inc. (MPT) said Friday it had completed its previously announced acquisition of 10 acute care hospitals and one behavioral health facility from IASIS Healthcare. The sale was contingent upon the completion of the merger between IASIS and Steward Health Care System LLC, which also closed on Friday.
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
Steven Hash will serve as independent chairman of the board while the company hires a new CEO.
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Panelists at yesterday's Multifamily Forum agreed Chicago was in a good position to withstand any upcoming correction.
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