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EX-99.1 - EX-99.1 - MEDICAL PROPERTIES TRUST INCd637204dex991.htm

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): December 1, 2013

 

 

MEDICAL PROPERTIES TRUST, INC.

MPT OPERATING PARTNERSHIP, L.P.

(Exact Name of Registrant as Specified in Charter)

 

 

Commission File Number 001-32559

 

Maryland

Delaware

 

20-0191742

20-0242069

(State or other jurisdiction of

incorporation or organization )

 

(I. R. S. Employer

Identification No.)

1000 Urban Center Drive, Suite 501

Birmingham, AL

  35242
(Address of principal executive offices)   (Zip Code)

(205) 969-3755

(Registrant’s telephone number, including area code)

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 


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:

 

Property

  

Type of property

  

Location

   Number of
licensed
beds
     Number of
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


SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

MEDICAL PROPERTIES TRUST, INC.

(Registrant)

By:   /s/ R. Steven Hamner
  R. Steven Hamner
  Executive Vice President and Chief Financial Officer (Principal Financial and Accounting Officer)

 

MPT OPERATING PARTNERSHIP, L.P.
By:   /s/ R. Steven Hamner
  R. Steven Hamner
 

Executive Vice President and Chief Financial Officer of the sole member of the general partner of
MPT Operating Partnership, L.P.

(Principal Financial and Accounting Officer)

Date: December 5, 2013


INDEX TO EXHIBITS

 

Exhibit

No.

  

Description

99.1    Press release dated December 3, 2013