Medical Properties Trust has entered into a new $450 million credit arrangement with a group of banks that will enable it to pursue more healthcare property acquisitions, according to a company press release. The new credit facility replaces an existing $220 million credit arrangement.
MPT, based in Birmingham, Ala., is a real estate investment trust that acquires and develops facilities including regional acute-care hospitals, ASCs, long-term acute care hospitals and inpatient rehabilitation hospitals.
The new facility is secured by a pledge of equity interests in the company's subsidiaries and certain mortgage notes, according to the release.
Read the Medical Properties Trust press release on the new credit facility.