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SCHEDULE IV - MORTGAGE LOANS ON REAL ESTATE
 12 Months Ended
Dec. 31, 2023
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, 2023

 

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)

 

 

10.50

%

 

2035

 

 

 

 

(2

)

 

$

146,892

 

 

$

146,892

 

 

 

(3

)

Vibra

 

 

11.50

%

 

2024

 

 

 

 

(2

)

 

 

7,986

 

 

 

7,986

 

 

 

(3

)

Prospect(5)

 

 

9.00

%

 

2028

 

 

 

 

(2

)

 

 

155,223

 

 

 

155,223

 

 

(3) (6)

 

 

 

 

 

 

 

 

 

 

 

 

 

$

310,101

 

 

$

310,101

 

 

 

(7

)

 

(1)
The aggregate cost for federal income tax purposes is $310.1 million.
(2)
There were no prior liens on loans as of December 31, 2023.
(3)
Mortgage loans were not delinquent with respect to principal or interest.
(4)
Mortgage loans covering three properties.
(5)
Mortgage loans covering four properties.
(6)
Interest on the Prospect loans becomes due and payable beginning March 1, 2024.
(7)
Excludes allowance for credit loss of $0.8 million at December 31, 2023.

Changes in mortgage loans (excluding allowance for credit loss) for the years ended December 31, 2023, 2022, and 2021 are summarized as follows:

 

 

 

Year Ended December 31,

 

 

 

 

2023

 

 

2022

 

 

2021

 

 

 

 

(Dollar amounts in thousands)

 

 

Balance at beginning of year

 

$

364,420

 

 

$

213,320

 

 

$

248,335

 

 

Additions during year:

 

 

 

 

 

 

 

 

 

 

New mortgage loans and additional advances
   on existing loans

 

 

155,223

 

 

 

177,924

 

 

 

1,128,695

 

(9)

Exchange rate fluctuations

 

 

31,530

 

 

 

(15,824

)

 

 

(3,640

)

 

 

 

 

551,173

 

 

 

375,420

 

 

 

1,373,390

 

 

Deductions during year:

 

 

 

 

 

 

 

 

 

 

Collection of principal

 

 

(241,072

)

(8)

 

(11,000

)

 

 

(1,160,070

)

(9)

 

 

 

(241,072

)

 

 

(11,000

)

 

 

(1,160,070

)

 

Balance at end of year

 

$

310,101

 

 

$

364,420

 

 

$

213,320

 

 
(8)
Includes a $151 million mortgage loan satisfied in exchange for non-controlling ownership interest in PHP Holdings as part of the Prospect Transaction in the second quarter of 2023 as more fully described in Note 3 to Item 8 of this Annual Report on Form 10-K.
(9)
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.