"According to MPT disclosures, these loans “help safeguard the value of MPT’s real estate.” Meanwhile, these investments have all the appearances of a Ponzi scheme that is continuing to harm Steward-owned hospitals: MPT continued to provide capital to Steward, which allowed the hospital system to continue paying rent to MPT. This allowed MPT to avoid devaluing its real estate purchases and the leases that it held, bolster its stock price, and report lucrative cash flows."
PDF LINK HERE
LETTER LINK HERE
Please e-mail with any questions.
Rob Simone, CFA
Managing Director
Twitter: @HedgeyeREITs
