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MPW > SEC Filings for MPW > Form 8-K on 5-Dec-2013All Recent SEC Filings

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Form 8-K for MEDICAL PROPERTIES TRUST INC


5-Dec-2013

Completion of Acquisition or Disposition of Assets, Regulation FD Di


Item 2.01. Completion of Acquisition or Disposition of Assets

On December 1, 2013, Medical Properties Trust, Inc. (the "Company") completed its previously announced acquisition of 11 rehabilitation facilities in the Federal Republic of Germany from RHM Klinik-und Altenheimbetriebe GmbH & Co. KG ("RHM") for an aggregate purchase price, including approximately €9.0 million in applicable transfer taxes, of approximately €184.0 million (plus a commitment to provide up to €10.0 million in financing for the construction of additions to the facilities within the next two years). Each of the facilities has been leased back to RHM under a master lease providing for a term of 27 years and for annual rent increases of 2.0 % from 2015 through 2017, and of 0.5 % thereafter. On December 31, 2020 and every three years thereafter rent will also be increased to reflect 70% of cumulative increases in the German consumer price index.

The table below sets forth pertinent details with respect to the eleven facilities acquired:

                                                                                   Number of
                                                                                   licensed        Number of
Property                            Type of property             Location            beds         square feet
Germany
Klinik Sonnenwende               Rehabilitation Facility       Bad Dürkheim               117          146,874
Rhein-Haardt-Klinik              Rehabilitation Facility       Bad Dürkheim               119           60,149
Dürkheimer Höhe                  Subacute Rehabilitation       Bad Dürkheim               198           81,537
Klaus-Miehlke-Klinik             Rehabilitation Facility   Wiesbaden-Bierstadt            196           86,606
Vesalius-Klinik                  Rehabilitation Facility       Bad Rappenau               174          120,857
Antoniusstift                    Subacute Rehabilitation       Bad Rappenau                90           77,080
Park-Klinik                      Rehabilitation Facility       Bad Dürkheim               285          170,177
Psychotherapeutische Klinik      Rehabilitation Facility     Bad Liebenwerda              122           44,455
Fontana Klinik                   Rehabilitation Facility     Bad Liebenwerda              206          119,350
Christiaan-Barnard-Klinik        Rehabilitation Facility   Dahlen-Schmannewitz            234          186,829
Wohnheim Hillersbach             Subacute Rehabilitation    Ortenberg/Lißberg              58           27,792

Total                                                                                   1,799        1,121,706

There were no material relationships prior to this transaction among the Company and its affiliates and RHM and its affiliates. The Company funded the purchase price through the sale of €200 million aggregate principal amount of 5.750% senior notes due 2020 at an issue price of 100%, completed on October 10, 2013, for net proceeds of approximately €196.5 million before expenses.



Item 7.01. Regulation FD Disclosure.

On December 3, 2013, the Company issued a press release announcing the completion of the RHM acquisition, a copy of which is furnished as Exhibit 99.1 hereto and is incorporated herein by reference.

The information furnished pursuant to this Item 7.01 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liability of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended.

In addition, this information shall not be deemed incorporated by reference in any filing of the Company with the Securities and Exchange Commission, except as expressly set forth by specific references in any such filing.



Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit
No. Description

99.1 Press release dated December 3, 2013


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