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SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
 12 Months Ended
Dec. 31, 2022
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate [Abstract]  
SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV — MORTGAGE LOANS ON REAL ESTATE

MEDICAL PROPERTIES TRUST, INC. AND MPT OPERATING PARTNERSHIP, L.P.

December 31, 2022

 

Column A

 

Column B

 

 

Column C

 

Column D

 

Column E

 

 

Column F

 

 

Column G(1)

 

 

Column H

 

Description

 

Interest
Rate

 

 

Final
Maturity
Date

 

Periodic Payment
Terms

 

Prior
Liens

 

 

Face
Amount of
Mortgages

 

 

Carrying
Amount of
Mortgages

 

 

Principal
Amount of
Loans
Subject to
Delinquent
Principal or
Interest

 

 

 

(Dollar amounts in thousands)

 

Long-term first mortgage loan:

 

 

 

 

 

 

Payable in monthly
installments of interest plus
principal payable in full at maturity

 

 

 

 

 

 

 

 

 

 

 

 

Colombia(4)

 

 

8.95

%

 

2035

 

 

 

 

(2

)

 

$

117,360

 

 

$

117,360

 

 

 

(3

)

Vibra

 

 

11.50

%

 

2024

 

 

 

 

(2

)

 

 

7,986

 

 

 

7,986

 

 

 

(3

)

Prospect

 

 

7.96

%

 

2034

 

 

 

 

(2

)

 

 

151,267

 

 

 

151,267

 

 

 

(3

)

Springstone

 

 

7.00

%

 

2041

 

 

 

 

(2

)

 

 

22,900

 

 

 

22,900

 

 

 

(3

)

Infracore

 

 

4.20

%

 

2023

 

 

 

 

(2

)

 

 

64,907

 

 

 

64,907

 

 

 

(3

)

 

 

 

 

 

 

 

 

 

 

 

 

$

364,420

 

 

$

364,420

 

 

 

(5

)

 

(1)
The aggregate cost for federal income tax purposes is $364.4 million.
(2)
There were no prior liens on loans as of December 31, 2022.
(3)
Mortgage loans were not delinquent with respect to principal or interest, other than for two months of interest on the Prospect loan.
(4)
Mortgage loans covering three properties.
(5)
Excludes allowance for credit loss of $0.3 million at December 31, 2022.

Changes in mortgage loans (excluding allowance for credit loss) for the years ended December 31, 2022, 2021, and 2020 are summarized as follows:

 

 

 

Year Ended December 31,

 

 

 

 

2022

 

 

2021

 

 

2020

 

 

 

 

(Dollar amounts in thousands)

 

 

Balance at beginning of year

 

$

213,320

 

 

$

248,335

 

 

$

1,274,995

 

 

Additions during year:

 

 

 

 

 

 

 

 

 

 

New mortgage loans and additional advances on
   existing loans

 

 

177,924

 

 

 

1,128,695

 

(6)

 

193,590

 

 

Exchange rate fluctuations

 

 

(15,824

)

 

 

(3,640

)

 

 

9,785

 

 

 

 

 

375,420

 

 

 

1,373,390

 

 

 

1,478,370

 

 

Deductions during year:

 

 

 

 

 

 

 

 

 

 

Collection of principal

 

 

(11,000

)

 

 

(1,160,070

)

(6)

 

(1,230,035

)

(7)

 

 

 

(11,000

)

 

 

(1,160,070

)

 

 

(1,230,035

)

 

Balance at end of year

 

$

364,420

 

 

$

213,320

 

 

$

248,335

 

 
(6)
Includes an £800 million mortgage loan advanced to Priory in the first quarter of 2021 that was redeemed as part of the acquisition of the underlying fee simple real estate in the second quarter of 2021 as more fully described in Note 3 to Item 8 of this Annual Report on Form 10-K.
(7)
Includes $835 million of mortgage loans that were used to acquire the underlying fee simple real estate as more fully described in Note 3 to Item 8 of this Annual Report on Form 10-K.