Exceeding Liquidity Targets
Medical Properties Trust executed approximately $3 billion in liquidity transactions in 2024, significantly outperforming the initial target of $2 billion.
Successful Bond Issuance
The company issued over $2.5 billion of seven-year secured bonds at a blended coupon of 7.88%, securing liquidity to cover all upcoming debt maturities through 2026.
New Operator Success
Six new operators were added to the portfolio, with contractual cash rent ramping up to a quarterly run rate of about $40 million by October 2026. The largest tenant paid rent early.
International Performance
Circle Health in the U.K. and Swiss Medical Network in Switzerland reported strong performance, with double-digit revenue and EBITDARM growth.
Hospital Fundamentals Strengthening
Admissions and surgical volumes are growing, and all asset types in the portfolio showed continued improvement in coverage on both a sequential and year-over-year basis.