Summary by Moomoo AI
On January 2, 2024, Medical Properties Trust Inc. (MPT) announced an amendment to its Master Lease Agreement with Steward Health Care System LLC, allowing for limited rent deferral. Steward will defer rent for Q4 2023 and January 2024, pay partial rent for February and March, and resume full payments in June 2024, including deferred rent plus interest and penalties. MPT also issued a press release on January 4, 2024, detailing actions to recover uncollected rents and reduce exposure to Steward. Steward's liquidity issues, due to changes in vendor payment terms, led to partial rent payments, with approximately $50 million unpaid as of December 31, 2023. MPT has engaged financial and legal advisors to assist in recovering the unpaid rent and loans. Steward is pursuing strategic transactions to improve liquidity and...Show More