MultiCare Health System has acquired the real estate assets of Capital Medical Center

Overview

Deal Type Mergers & Acquisitions
Client & Transactional Partners MultiCare Health System
Capital Medical Center
Medical Properties Trust
 
Our Role Buy-Side Advisor

Summary

Carsten Beith | James Moloney | Ted Kaehler | Dan Gold

Cain Brothers, a division of KeyBanc Capital Markets, advised MultiCare Health System on its acquisition of the Capital Medical Center real estate assets from Medical Properties Trust. MultiCare acquired the CMC operating company from LifePoint Health and its community physician partners in March of 2021. The transaction received regulatory approvals and closed effective December 20, 2021.

Cain Brothers was retained by MultiCare as its investment banking advisor to advise MultiCare on the acquisition of Capital Medical Center and purchase of the hospital real estate from MPT. Cain Brothers brought deep domain expertise in the hospital and health system industry and a strong understanding of the healthcare real estate market. This transaction will allow MultiCare to expand its growing footprint in Washington and to serve the Thurston County region.

Capital Medical Center is a 107-bed community hospital that opened in 1985.

MultiCare is a not-for-profit health care organization that has been caring for communities in Washington state since the founding of Tacoma’s first hospital in 1882. MultiCare has grown into the largest, not-for-profit, community-based, locally-owned health system in the state of Washington. MultiCare currently operates 11 hospitals in both the greater Puget Sound and Inland Northwest Regions of Washington.

Medical Properties Trust, Inc. is a self-advised real estate investment trust formed to acquire and develop net-leased hospital facilities. From its inception, the Company has grown to become one of the world’s largest owners of hospitals with 444 facilities and roughly 47,000 licensed beds in nine countries and across four continents. MPT’s financing model facilitates acquisitions and recapitalizations and allows operators of hospitals to unlock the value of their real estate assets to fund facility improvements, technology upgrades and other investments in operations.

Cain Brothers

Recent Deals

July 2022

 

$280 Million

Senior Secured Credit Facilities

Left Lead Arranger
Joint Bookrunner
Administrative Agent

Debt Capital Markets

intralot-inc-
July 2022

Lofts on Main

$14.3 Million

Adaptive Reuse and New Construction

Construction

lofts-on-main
June 2022

 

$126.9 Million

Educational Facilities Revenue Bonds

Sole Manager

Debt Capital Markets

depauw-university
June 2022

has been acquired by

 

$30 Million

Asset-Based Revolving Credit Facility

Administrative Agent
Sole Lender

Debt Capital Markets

kksp-precision-machining-llc
June 2022


Series D Funding

led by

Morgan Stanley Expansion Capital

$140 Million

Exclusive Financial Advisor

Mergers & Acquisitions

platform-sh
June 2022

Darby Crossing

$74 Million

Construction and Private Placement Loan

Construction
Private Placement

darby-crossing
June 2022

the parent company of

AEP Transmission Company, LLC

$550 Million

Senior Notes

Joint Bookrunner

Debt Capital Markets

aep-transmission-company,-llc
May 2022

has received a strategic investment from

 

Exclusive Financial Advisor

Mergers & Acquisitions

valta-energy
May 2022

 

a portfolio company of

has been acquired by

 

Exclusive Sell-Side Advisor

Mergers & Acquisitions

thermogenics-inc-
May 2022

 

Tiburon Place

$53 Million

4% bond LIHTC and State Housing Equity

Construction

tiburon-place
May 2022

 

$500 Million

Senior Secured Credit Facility

Joint Bookrunner
Joint Lead Arranger

Debt Capital Markets

delaware-basin-resources-llc
May 2022

 

Cheshire Station

 

$17.6 Million

Acquisition

Lender

CMBS

cheshire-station
May 2022

ACG Portfolio-Oakland Glen MHC

ACG Portfolio-Clayton Acres MHC

$59.5 Million

Refinance

Lender

Fannie Mae

acg-portfolio
May 2022

 

Stonetown - North Pines

Stonetown - Country Meadows

$82 Million

Acquisition

Lender

Fannie Mae

stonetown-trinity-portfolio
May 2022

Sawgrass Point

$28.5 Million

Refinance

Lender

Fannie Mae

sawgrass-point
May 2022

 

Floorplan Inventory Financing and Commercial Real Estate Lending

Lender

Mergers & Acquisitions

great-falls-subaru
May 2022

a portfolio company of

has acquired

 

$545 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Bookrunner
Left Lead Arranger

Debt Capital Markets

congruex-group-llc
May 2022

 

$2.55 Billion

Senior Secured Credit Facilities

Co-Documentation Agent
Joint Lead Arranger

Debt Capital Markets

penn-national-gaming,-inc-
May 2022

 

$95 Million

Senior Secured Credit Facilities

Administrative Agent
Joint Lead Arranger
Sole Bookrunner

Debt Capital Markets

doyon-limited

Connect With Us

  • Social Share Icon
  • Social Share Icon
  • Social Share Icon

Find an Expert