Medical Properties Trust acquires stake in Switzertland’s Infracore

TAGS

US-based Medical Properties Trust (MPT) has acquired a 46% stake in Swiss healthcare real estate company from its previous majority shareholder – for $236.5 million.

The real estate of Infracore is valued at nearly $900 million which means the share of the new largest shareholder Medical Properties Trust is about $410 million.

The portfolio of the healthcare infrastructure company is made up of 13 acute care hospital campuses located across Switzerland and operated mainly by Swiss Medical Network (SMN), a 100% subsidiary of Aevis.

See also  Cinnamon Production, Medicinal Uses, Properties and Chemical Constituents

Altogether, the hospital campuses span over an area of nearly 1.5 million square feet with an average remaining lease term of 23 years.

Medical Properties Trust acquires stake in Swiss healthcare real estate company Infracore

Medical Properties Trust acquires stake in Swiss healthcare real estate company Infracore.

Medical Properties Trust is expecting an initial return of nearly 5.0% which will be annually adjusted by 100% of Swiss inflation. Currently, Infracore has debt nearly 50% of its real estate value with 1.7% weighted average interest rate.

See also  Transocean to acquire rival offshore drilling contractor Ocean Rig

Following the transaction, Aevis and the other existing shareholder will each hold smaller stakes in Infracore.

Edward K. Aldag, Jr. – Medical Properties Trust Chairman, President, and CEO said: “This investment in Infracore presents MPT a unique opportunity to enter the Swiss healthcare market with the second largest private hospital operator in the country, and we are excited to establish a new long-term relationship with Swiss Medical Network. Moreover, the investment provides near-term opportunities for MPT to grow our investment in Infracore as Infracore continues to strengthen its platform in Switzerland.”


Discover more from Business-News-Today.com

Subscribe to get the latest posts sent to your email.

CATEGORIES
TAGS
Share This