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Meditrust Liquidity Plan Gets $350-Mil Boost

DALLAS-A $350-million credit facility is the push that's been needed for Meditrust Cos. to declare success for a turnaround plan. The freshly closed deal and moniker change to La Quinta Properties complete the health-care exit plan and lodging industry refocus.

By Connie Gore | Updated on June 12, 2001

DALLAS-The final puzzle piece is in place for Meditrust Cos., now labeled La Quinta Properties Inc., to successfully complete a turnaround. A $350-million credit facility has closed, giving the renamed entity a $200-million revolving credit line and $150-million term loan.

The renaming carries no internal restructuring of the paired-share REIT, Temple Weiss of Meditrust’s investor relations, tells GlobeSt.com. The financial action is, he says, “the last big piece that everyone was waiting to see in the turnaround of Meditrust.”

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