BIRMINGHAM, AL and DEIDESHEIM, GERMANY-Medical Properties Trust, Inc. has entered into a definitive agreement with leading German rehabilitation hospital operator RHM Klinik- und Altenheimbetriebe GmbH & Co. KG (“RHM”) to acquire 11 facilities in Germany in a sale / leaseback.
The transaction is valued at $244.7 million based on a EUR/USD exchange rate of 1.33, or €184.0M (including €9.0 million of transfer tax paid by MPT).
Under the terms of the transaction, MPT will acquire the real estate assets of 11 facilities located throughout Germany and lease them back to the operator, RHM, in a 27-year master lease structure. The RHM portfolio consists of nearly 1,800 beds with average occupancy rates significantly above the average rates for German rehabilitation clinics. RHM is based in Deidesheim, Germany and owned by Waterland Private Equity Investments, a leading European private equity firm, which will maintain its operational ownership.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
