Printer Friendly

MEDICAL PROPERTIES INC. ENTERS INTO STANDSTILL AGREEMENT WITH ALL THREE OF ITS LESSEES AND GUARANTOR OF THE LEASES

 MEDICAL PROPERTIES INC. ENTERS INTO STANDSTILL AGREEMENT
 WITH ALL THREE OF ITS LESSEES AND GUARANTOR OF THE LEASES
 ENCINO, Calif., Jan. 2 /PRNewswire/ -- Medical Properties Inc. (AMEX: MPP) today announced that it has entered into a standstill agreement with all three of its lessees, as well as the guarantor of the leases, until March 1, 1992. During this period, Medical Properties will not declare a default under the leases for any lessee's or guarantor's failure to make any rent or other payments thereunder, and the parties will continue to consider a possible renegotiation of the leases as well as other alternatives. The lessees did not make their quarterly rent payments which were due on Dec. 31, 1991.
 The agreement is conditioned upon obtaining the consent of Medical Properties' secured lender.
 Medical Properties is a real estate investment trust engaged in investing in income producing health care related facilities.
 -0- 1/2/92
 /CONTACT: William Hartauer, president, Medical Properties Inc., 818-902-2270, or Melvyn S. Rifkind of Melvyn S. Rifkind Inc., 818-783-8323/
 (MPP) CO: Medical Properties ST: California IN: FIN SU:


DM-JH -- LA023 -- 6290 01/02/92 16:52 EST
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:Jan 2, 1992
Words:188
Previous Article:VIEWLOGIC ANNOUNCES SALES AND MARKETING APPOINTMENTS
Next Article:HAHNEMANN RECEIVES APPROVAL FOR PANCREAS TRANSPLANTS
Topics:


Related Articles
MEDICAL PROPERTIES INC. REPORTS RESULTS
MEDICAL PROPERTIES ANNOUNCES EXTENSION AGREEMENT
MEDICAL PROPERTIES INC. REPORTS RESULTS
MEDICAL PROPERTIES ANNOUNCES EXTENSION OF STANDSTILL AGREEMENT
MEDICAL PROPERTIES REPORTS RESULTS
MEDICAL PROPERTIES APPROVES PROPOSALS TO ACCEPT PAYMENT FROM LA MIRADA HOSPITAL
MEDICAL PROPERTIES REPORTS RESULTS
MEDICAL PROPERTIES ANNOUNCES YEAR-END RESULTS
GABLES ANNOUNCES BOND FINANCING COMMITMENT
Equity Inns Announces Agreement With Patriot, Crossroads and Interstate; Comments on 1999 Outlook.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters