Medical Properties Trust Inc. (MPW) Secures Lease Deal with NOR Healthcare, Enhancing Cash Flow Visibility

Thursday, Sep 4, 2025 1:20 pm ET1min read

Medical Properties Trust Inc. (MPW) has announced a new lease agreement with NOR Healthcare Systems, encompassing six facilities under a master lease with an initial annualized rent of $45 million. The deal supports cash flow visibility and strengthens the company's target of exceeding $1 billion in pro rata annualized rent by the end of 2026.

Medical Properties Trust Inc. (MPW) has announced a significant lease agreement with NOR Healthcare Systems, encompassing six facilities under a master lease with an initial annualized rent of $45 million. The deal, which supports cash flow visibility and strengthens the company's target of exceeding $1 billion in pro rata annualized rent by the end of 2026, was announced on August 28, 2025 [1].

The lease agreement, subject to regulatory approval, is expected to close in 2025. The six facilities will be subject to a master lease with an initial annualized rent of $45 million, which is broadly in line with Prospect Medical Group’s previously scheduled 2025 obligations. Rent payments will be partially deferred during the first year, with repayment spread over the entire lease term [2].

Medical Properties Trust Inc. has also committed up to $60 million in seismic upgrades, which will be added to the lease base and generate additional rent at standard yields. This commitment underscores the company's focus on maintaining the integrity and safety of its facilities while enhancing cash flow visibility [3].

The arrangement highlights Medical Properties' (MPW) operational resilience and history of profitability, as evidenced by strong interest from multiple operators in acquiring these assets. The lease deal is part of the company's strategy to exceed its target of $1 billion in pro rata annualized rent by the end of 2026 [1].

References:
[1] https://ca.finance.yahoo.com/news/medical-properties-mpw-lease-deal-171407620.html
[2] https://seekingalpha.com/news/4490237-medical-properties-trust-announces-lease-agreement-for-six-california-facilities
[3] https://www.ainvest.com/news/cohesity-2026-ipo-potential-disrupt-data-security-sector-2509/

Medical Properties Trust Inc. (MPW) Secures Lease Deal with NOR Healthcare, Enhancing Cash Flow Visibility

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