Steward Health Care's landlord, Medical Properties Trust , said Wednesday it has started a process to sell or find new tenants for facilities including those operated by theMPT first reported in January that Steward owed it $50 million in back rent. Steward is MPT's largest tenant, although the real estate investment trust owns hundreds of other health care properties, across the country and internationally.
MPT purchased Steward's Massachusetts real estate in 2016 for $1.25 billion. Steward then began leasing the properties back from MPT. A third company now owns a 50% share in the properties. Norwood Hospital pictured on Feb. 21, 2024. The hospital is under construction, but work has stopped. "Trying to find someone to come in here and rescue this project, build the hospital, and then run it, is a daunting task," he said.
Source: Healthcare Press (healthcarepress.net)
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