A Landlord Feels the Pain of Hospital-Industry Distress
Medical Properties Trust has seen liquidity dry up as its tenants struggled
A Steward Health Care hospital in Easton, Pennsylvania.
Photographer: Hannah Yoon/BloombergWelcome to The Brink. We’re Eliza Ronalds-Hannon in Atlanta and Reshmi Basu in New York, and we’re looking at the second-tier effects of health care industry distress. Medical Properties Trust, a REIT landlord that owned facilities operated by two recently-bankrupt hospital chains, has seen some revenue and liquidity dry up as its tenants struggled. We also look at the bellwether real estate developer China Vanke and the cash burn at Australia’s biggest public casino operator. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Medical Properties Trust, a real estate investment trust that’s counted bankrupted hospital chains Prospect Medical Holdings and Steward Health Care System among its lessees, is feeling the impact of its tenants’ distress.