New Health Care REIT Completes Offering

Medical Properties Trust Inc., a newly formed real estate investment trust based in Birmingham, Ala., has reported the completion of a private offering of 25.3 million shares of common stock.The net proceeds of approximately $233.55 million will be used to acquire and develop net-leased health care facilities, to repay debt, to pay pre-offering operating expenses, and for working capital, the REIT said. Friedman, Billings, Ramsey & Co. was the sole placement agent and initial purchaser of the offering, which included 3.3 million shares to cover overallotments.