CommonSpirit Hospital Financing

Overview

Deal Type Debt Capital Markets
Size $770 Million
Senior Secured Credit Facilities
Client & Transactional Partners CommonSpirit Health
Blue Owl
Medical Properties Trust, Inc.
Our Role Joint Lead Arranger

Summary

KeyBanc Capital Markets served as Joint Lead Arranger on the successful close of $770 million Senior Secured Credit Facilities in relation to a hospital real estate portfolio recapitalization. 

A joint venture between Medical Properties Trust and Blue Owl Real Estate recapitalized its Utah hospital portfolio — a five-asset, 692-bed hospital portfolio located in Utah. The hospitals are leased by Catholic Health Initiatives (CHI), a subsidiary of CommonSpirit Health and a member of its obligated group under the Master Trust Indenture governing its bonds. The triple net master lease terms include annual rental increases with the backing of CommonSpirit’s obligated group. The portfolio is situated in a high-value healthcare market and is expected to see continued growth.

B I Deal Disclosure

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and by its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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