Fall River, Taunton Hospitals Bring in New Owners

Two SouthCoast hospitals are among eight in the state whose owners have brought new ownership on board, according to a press release from real estate company CBRE.

Medical Properties Trust, Inc., the owners of Morton Hospital in Taunton and St. Anne's Hospital in Fall River, has formed a partnership with Australia-based asset manager Macquarie Asset Management.

Macquarie acquired a 50% interest in the joint venture, which also owns hospitals operated by Steward Health Care System in Brockton, Brighton, Methuen, Haverhill, Ayer, and Dorcheseter, CBRE noted in the release.

The real estate group advised on the recapitalization and financing for the $1.7 billion deal.

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Lee Asher of CBRE said it was a "rare opportunity" to recapitalize a large acute care hospital portfolio.

"These are unique inpatient assets in critical healthcare markets in Massachusetts," he said, adding, "we believe the newly formed joint venture will successfully support Steward's hospital operations and mission to deliver the highest quality care to its patients."