Offering Nets New Healthcare REIT $233M

BIRMINGHAM, AL-Medical Properties Trust Inc. has completed its private offering of 25.3 million shares. The newly formed REIT intends to acquire and develop net-leased healthcare facilities. The total net proceeds from the offering, after deducting fees and expenses, will be about $233.5 million. When leveraged, the proceeds will enable the locally headquartered company to acquire or develop about $500 million worth of properties. A portion of the funds also will be used to repay debt, pay pre-offering operating expenses, and for working capital.Specifically, MPT plans to acquire inpatient rehabilitation hospitals, long-term acute care hospitals, regional acute care hospitals, ambulatory surgery centers, and other single-discipline healthcare facilities such as heart hospitals, orthopedic hospitals, and cancer centers.Friedman, Billings, Ramsey & Co., a subsidiary of publicly traded Friedman, Billings, Ramsey Group Inc. acted as the sole placement agent and initial purchaser in the offering, which was increased to 22 million shares from 20 million immediately prior to its close. In addition, Friedman, Billings, Ramsey & Co. exercised its option to place an additional 3.3 million shares to cover additional allotments.