Printer Friendly

MEDICAL PROPERTIES ANNOUNCES EXTENSION OF STANDSTILL AGREEMENT

   MEDICAL PROPERTIES ANNOUNCES EXTENSION OF STANDSTILL AGREEMENT
    ENCINO, Calif., July 1 /PRNewswire/ -- Medical Properties Inc. (AMEX: MPP) today announced that the standstill agreement, previously entered into with all three of its lessees and the guarantor of the leases, has been extended to Aug. 31, 1992, from June 30, 1992. During this period, Medical Properties will receive $60,000 per month from one of its lessees but will not declare a default under the leases for any lessee's or guarantor's failure to make any other rent or other payments thereunder.  Such extension is subject to obtaining approval by its secured lender.
    The parties are continuing to negotiate amendments to, or termination of the leases.
    Medical Properties is a real estate investment trust engaged in investing in income producing health care related facilities.
    -0-                    7/1/92
    /CONTACT:  William Hartauer, president of Medical Properties, 818-902-2270, or Melvyn S. Rifkind of Melvyn S. Rifkind Inc., 818-783-8323, for Medical Properties/
    (MPP) CO:  Medical Properties ST:  California IN: SU: AL -- LA015 -- 5687 07/01/92 12:09 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 1, 1992
Words:173
Previous Article:UNOCAL ANNOUNCES UNION OIL COMPANY OF CALIFORNIA COMPLETES SALE
Next Article:SAGE ANALYTICS INTERNATIONAL INC. ANNOUNCES EXPANSION OF INTERNATIONAL ENVIRONMENTAL MARKET ACTIVITIES.
Topics:


Related Articles
MEDICAL PROPERTIES INC. ENTERS INTO STANDSTILL AGREEMENT WITH ALL THREE OF ITS LESSEES AND GUARANTOR OF THE LEASES
MEDICAL PROPERTIES ANNOUNCES EXTENSION AGREEMENT
MORTGAGE AND REALTY TRUST ANNOUNCES
MORTGAGE AND REALTY TRUST ANNOUNCES EXTENSION OF STANDSTILL AND CONTINUATION OF NEGOTIATIONS
GABLES ANNOUNCES BOND FINANCING COMMITMENT
G&L Realty Corp. Announces Receipt of a Proposal From Lyle Weisman and His Associates.
Sunrise REIT announces amendment to HCP's proposal.
Ventas Moves to Compel Enforcement of HCP Standstill Agreement With Sunrise REIT.
Ventas Pleased With Court Decision to Enforce Standstill Agreement Between Sunrise REIT and HCP.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters