Medical Properties Trust has sold a 50 percent stake in eight Massachusetts hospitals to Macquarie Infrastructure Partners.
The eight hospitals are owned by Medical Properties Trust, a real estate investment trust, and operated by Dallas-based Steward Health Care System.
Medical Properties Trust received $1.3 billion in total cash proceeds. The company is using most of the proceeds to reduce its debt load.
"At MPT, we have long understood the embedded value in our entire portfolio as well as the proficiency of operators such as Steward," Medical Properties Trust Chair, President and CEO Edward Aldag Jr. said in a March 16 news release. "The closing of this transaction provides independent confirmation of the value that sophisticated investors and lenders also attribute to well-underwritten hospital investments."