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Document and Entity Information - USD ($)	12 Months Ended
Document and Entity Information - USD ($)	Dec. 31, 2012	Feb. 18, 2013	Jun. 30, 2012
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Trading Symbol	MPW
Entity Registrant Name	MEDICAL PROPERTIES TRUST INC
Entity Central Index Key	0001287865
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		137,077,356
Entity Public Float			$ 1,304,203,900
MPT Operating Partnership, L.P.
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	FY
Entity Registrant Name	MPT Operating Partnership, L.P.
Entity Central Index Key	0001524607
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Real estate assets
Land	$ 110,364	$ 105,505
Buildings and improvements	1,079,188	1,017,443
Construction in progress and other	38,339	30,903
Intangible lease assets	52,824	51,206
Real estate held for sale		59,793
Net investment in direct financing leases	314,412
Mortgage loans	368,650	165,000
Gross investment in real estate assets	1,963,777	1,429,850
Accumulated depreciation	(114,399)	(84,466)
Accumulated amortization	(12,335)	(8,722)
Net investment in real estate assets	1,837,043	1,336,662
Cash and cash equivalents	37,311	102,726
Interest and rent receivables	45,289	29,862
Straight-line rent receivables	35,860	33,993
Other loans	159,243	74,839
Other assets	64,140	43,792
Total Assets	2,178,886	1,621,874
Liabilities
Debt, net	1,025,160	689,849
Accounts payable and accrued expenses	65,961	51,125
Deferred revenue	20,609	23,307
Lease deposits and other obligations to tenants	17,342	28,778
Total liabilities	1,129,072	793,059
Commitments and Contingencies
Equity/Capital
Preferred stock, $0.001 par value. Authorized 10,000 shares; no shares outstanding
Common stock, $0.001 par value. Authorized 250,000 shares; issued and outstanding - 136,335 shares at December 31, 2012 and 110,786 shares at December 31, 2011	136	111
Additional paid-in capital	1,295,916	1,055,256
Distributions in excess of net income	(233,494)	(214,059)
Accumulated other comprehensive loss	(12,482)	(12,231)
Treasury shares, at cost	(262)	(262)
Total Equity	1,049,814	828,815
Total Liabilities and Equity	2,178,886	1,621,874
MPT Operating Partnership, L.P.
Real estate assets
Land	110,364	105,505
Buildings and improvements	1,079,188	1,017,443
Construction in progress and other	38,339	30,903
Intangible lease assets	52,824	51,206
Real estate held for sale		59,793
Net investment in direct financing leases	314,412
Mortgage loans	368,650	165,000
Gross investment in real estate assets	1,963,777	1,429,850
Accumulated depreciation	(114,399)	(84,466)
Accumulated amortization	(12,335)	(8,722)
Net investment in real estate assets	1,837,043	1,336,662
Cash and cash equivalents	37,311	102,726
Interest and rent receivables	45,289	29,862
Straight-line rent receivables	35,860	33,993
Other loans	159,243	74,839
Other assets	64,140	43,792
Total Assets	2,178,886	1,621,874
Liabilities
Debt, net	1,025,160	689,849
Accounts payable and accrued expenses	38,177	28,780
Deferred revenue	20,609	23,307
Lease deposits and other obligations to tenants	17,342	28,778
Payable due to Medical Properties Trust, Inc.	27,394	21,955
Total liabilities	1,128,682	792,669
Commitments and Contingencies
Equity/Capital
General partner - issued and outstanding - 1,357 units at December 31, 2012 and 1,107 units at December 31, 2011	10,630	8,418
Accumulated other comprehensive loss	(12,482)	(12,231)
Total Capital	1,050,204	829,205
Total Liabilities and Equity	2,178,886	1,621,874
MPT Operating Partnership, L.P. \| Common Units
Equity/Capital
Limited Partners Capital	1,052,056	833,018
MPT Operating Partnership, L.P. \| Ltip Units
Equity/Capital
Limited Partners Capital

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2012	Dec. 31, 2011
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares outstanding
Common stock, par value	$ 0.001	$ 0.001
Common stock, Shares authorized	250,000,000	250,000,000
Common stock, shares issued	136,335,000	110,786,000
Common stock, shares outstanding	136,335,000	110,786,000
MPT Operating Partnership, L.P.
General partner, units issued	1,357,000	1,107,000
General partner, units outstanding	1,357,000	1,107,000
MPT Operating Partnership, L.P. \| Common Units
Limited Partners, units issued	134,978,000	109,679,000
Limited Partners, units outstanding	134,978,000	109,679,000
MPT Operating Partnership, L.P. \| Ltip Units
Limited Partners, units issued	221,000	150,000
Limited Partners, units outstanding	221,000	150,000

Consolidated Statements of Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues
Rent billed	$ 123,080	$ 108,735	$ 80,270
Straight-line rent	7,982	5,379	1,165
Income from direct financing leases	21,728
Interest and fee income	48,607	21,370	26,589
Total revenues	201,397	135,484	108,024
Expenses
Real estate depreciation and amortization	33,545	30,896	20,897
Impairment charge			12,000
Property-related	1,495	738	4,381
Acquisition expenses	5,420	4,184	2,026
General and administrative	28,582	27,219	26,509
Total operating expense	69,042	63,037	65,813
Operating income	132,355	72,447	42,211
Other income (expense)
Interest and other (expense) income	(1,662)	18	1,473
Earnings from equity and other interests	2,943	78	45
Debt refinancing costs		(14,214)	(6,716)
Interest expense	(58,243)	(43,810)	(33,984)
Net other expenses	(56,962)	(57,928)	(39,182)
Income from continuing operations	75,393	14,519	3,029
Income from discontinued operations	14,684	12,195	19,983
Net income	90,077	26,714	23,012
Net income attributable to non-controlling interests	(177)	(178)	(99)
Net income attributable to MPT common stockholders	$ 89,900	$ 26,536	$ 22,913
Earnings per share (unit) - basic
Income from continuing operations attributable to MPT common stockholders (Operating Partnership partners)	$ 0.56	$ 0.12	$ 0.02
Income from discontinued operations attributable to MPT common stockholders (Operating Partnership partners)	0.11	0.11	0.20
Net income attributable to MPT common stockholders (Operating Partnership partners)	$ 0.67	$ 0.23	$ 0.22
Weighted average shares (units) outstanding - basic	132,331	110,623	100,706
Earnings per share (unit) - diluted
Income from continuing operations attributable to MPT common stockholders (Operating Partnership partners)	$ 0.56	$ 0.12	$ 0.02
Income from discontinued operations attributable to MPT common stockholders	0.11	0.11	0.20
Net income attributable to MPT common stockholders (Operating Partnership partners)	$ 0.67	$ 0.23	$ 0.22
Weighted average shares (units) outstanding - diluted	132,333	110,629	100,708
MPT Operating Partnership, L.P.
Revenues
Rent billed	$ 123,080	$ 108,735	$ 80,270
Straight-line rent	7,982	5,379	1,165
Income from direct financing leases	21,728
Interest and fee income	48,607	21,370	26,589
Total revenues	201,397	135,484	108,024
Expenses
Real estate depreciation and amortization	33,545	30,896	20,897
Impairment charge			12,000
Property-related	1,495	738	4,381
Acquisition expenses	5,420	4,184	2,026
General and administrative	28,582	27,202	26,434
Total operating expense	69,042	63,020	65,738
Operating income	132,355	72,464	42,286
Other income (expense)
Interest and other (expense) income	(1,662)	18	1,473
Earnings from equity and other interests	2,943	78	45
Debt refinancing costs		(14,214)	(6,716)
Interest expense	(58,243)	(43,810)	(33,984)
Net other expenses	(56,962)	(57,928)	(39,182)
Income from continuing operations	75,393	14,536	3,104
Income from discontinued operations	14,684	12,195	19,983
Net income	90,077	26,731	23,087
Net income attributable to non-controlling interests	(177)	(178)	(99)
Net income attributable to MPT common stockholders	$ 89,900	$ 26,553	$ 22,988
Earnings per share (unit) - basic
Income from continuing operations attributable to MPT common stockholders (Operating Partnership partners)	$ 0.56	$ 0.12	$ 0.02
Income from discontinued operations attributable to MPT common stockholders (Operating Partnership partners)	0.11	0.11	0.20
Net income attributable to MPT common stockholders (Operating Partnership partners)	$ 0.67	$ 0.23	$ 0.22
Weighted average shares (units) outstanding - basic	132,331	110,623	100,706
Earnings per share (unit) - diluted
Income from continuing operations attributable to MPT common stockholders (Operating Partnership partners)	$ 0.56	$ 0.12	$ 0.02
Income from discontinued operations attributable to MPT common stockholders	0.11	0.11	0.20
Net income attributable to MPT common stockholders (Operating Partnership partners)	$ 0.67	$ 0.23	$ 0.22
Weighted average shares (units) outstanding - diluted	132,333	110,629	100,708

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Net income	$ 90,077	$ 26,714	$ 23,012
Other comprehensive income (loss):
Unrealized loss on interest rate swap	(251)	(8,590)	(3,641)
Total comprehensive income	89,826	18,124	19,371
Comprehensive income attributable to non-controlling interests	(177)	(178)	(99)
Comprehensive income attributable to MPT common stockholders (Operating Partnership partners)	89,649	17,946	19,272
MPT Operating Partnership, L.P.
Net income	90,077	26,731	23,087
Other comprehensive income (loss):
Unrealized loss on interest rate swap	(251)	(8,590)	(3,641)
Total comprehensive income	89,826	18,141	19,446
Comprehensive income attributable to non-controlling interests	(177)	(178)	(99)
Comprehensive income attributable to MPT common stockholders (Operating Partnership partners)	$ 89,649	$ 17,963	$ 19,347

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

+ References + Details

- Definition

The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the economic entity, including both controlling (parent) and noncontrolling interests. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, including any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent.

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- Definition

Net of tax amount, before reclassification adjustments, of the change in accumulated gain (loss) from derivative instruments designated and qualifying as the effective portion of cash flow hedges. Also includes an entity's share of an equity investee's increase (decrease) in deferred hedging gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 10A
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 17, 20
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 121
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 133
-Paragraph 46
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 130
-Paragraph 24
-Subparagraph b
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(3)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 45
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-URI http://asc.fasb.org/extlink&oid=7656940&loc=SL4569616-111683

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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=18733213&loc=SL4591551-111686

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
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-Paragraph 38
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 38
-Subparagraph c(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 5
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph A1, A4, A5
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Additional Paid-in Capital	Distributions in Excess of Net Income	Treasury Stock	Common Par Value	Accumulated Other Comprehensive Loss	Non- Controlling Interests	MPT Operating Partnership, L.P.	MPT Operating Partnership, L.P. Accumulated Other Comprehensive Loss	MPT Operating Partnership, L.P. Non- Controlling Interests	MPT Operating Partnership, L.P. General Partner	MPT Operating Partnership, L.P. Limited Partner Common Par Value	MPT Operating Partnership, L.P. Limited Partner Long Term Incentive Plan
Beginning balance (in shares) at Dec. 31, 2009					78,725						787	77,938	63
Beginning balance at Dec. 31, 2009	$ 671,575	$ 759,721	$ (88,093)	$ (262)	$ 79		$ 130	$ 671,872		$ 130	$ 6,717	$ 664,952	$ 73
Net income	23,012		22,913				99	23,087		99	230	22,601	$ 157
Unrealized loss on interest rate swaps	(3,641)					$ (3,641)		(3,641)	$ (3,641)
Stock vesting and amortization of stock-based compensation	6,616	6,616						6,616			$ 66	$ 6,550
Stock vesting and amortization of stock-based compensation (shares)					700						7	693	31
Distributions to non-controlling interests	(115)						(115)	(115)		(115)
Extinguishment of convertible debt	(2,587)	(2,587)						(2,586)			$ (26)	$ (2,560)
Proceeds from offering (net of offering costs) (shares)					30,800						308	30,492
Proceeds from offering (net of offering costs)	288,066	288,035			$ 31			288,066			$ 2,882	$ 285,184
Distributions declared ($0.80 per share/unit)	(83,350)		(83,350)					(83,350)			$ (834)	$ (82,286)	$ (230)
Ending balance (in shares) at Dec. 31, 2010					110,225						1,102	109,123	94
Ending balance at Dec. 31, 2010	899,576	1,051,785	(148,530)	(262)	$ 110	(3,641)	114	899,949	(3,641)	114	$ 9,035	$ 894,441
Net income	26,714		26,536				178	26,731		178	265	26,020	$ 268
Unrealized loss on interest rate swaps	(8,590)					(8,590)		(8,590)	(8,590)
Stock vesting and amortization of stock-based compensation	6,983	6,982			$ 1			6,984			$ 69	$ 6,915
Stock vesting and amortization of stock-based compensation (shares)					561						5	556	56
Distributions to non-controlling interests	(209)						(209)	(209)		(209)
Purchase of non-controlling interest	(524)	(441)					(83)	(525)		(83)		$ (442)
Extinguishment of convertible debt	(5,501)	(3,070)	(2,431)					(5,501)			$ (55)	(5,446)
Distributions declared ($0.80 per share/unit)	(89,634)		(89,634)					(89,634)			$ (896)	$ (88,470)	$ (268)
Ending balance (in shares) at Dec. 31, 2011					110,786						1,107	109,679	150
Ending balance at Dec. 31, 2011	828,815	1,055,256	(214,059)	(262)	$ 111	(12,231)		829,205	(12,231)		$ 8,418	$ 833,018
Net income	90,077		89,900				177	90,077		177	899	88,733	$ 268
Unrealized loss on interest rate swaps	(251)					(251)		(251)	(251)
Stock vesting and amortization of stock-based compensation	7,637	7,636			$ 1			7,637			$ 76	$ 7,561
Stock vesting and amortization of stock-based compensation (shares)					854						4	850	71
Distributions to non-controlling interests	(177)						$ (177)	(177)		$ (177)
Proceeds from offering (net of offering costs) (shares)					24,695						246	24,449
Proceeds from offering (net of offering costs)	233,048	233,024			$ 24			233,048			$ 2,331	$ 230,717
Distributions declared ($0.80 per share/unit)	(109,335)		(109,335)					(109,335)			$ (1,094)	$ (107,973)	$ (268)
Ending balance (in shares) at Dec. 31, 2012					136,335						1,357	134,978	221
Ending balance at Dec. 31, 2012	$ 1,049,814	$ 1,295,916	$ (233,494)	$ (262)	$ 136	$ (12,482)		$ 1,050,204	$ (12,482)		$ 10,630	$ 1,052,056

Consolidated Statements of Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Dividends declared per common share/unit	$ 0.80	$ 0.80	$ 0.80
MPT Operating Partnership, L.P.
Dividends declared per common share/unit	$ 0.80	$ 0.80	$ 0.80

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating Activities
Net income	$ 90,077	$ 26,714	$ 23,012
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,593	35,477	26,312
Amortization and write-off of deferred financing costs and debt discount	3,457	9,289	6,110
Premium on extinguishment of debt		13,091	3,833
Direct financing lease (interest) accretion	(3,104)
Straight-line rent revenue	(8,309)	(7,142)	(4,932)
Share/Unit-based compensation expense	7,637	6,983	6,616
Impairment charge		564	12,000
(Gain) loss from sale of real estate	(16,369)	(5,431)	(10,566)
Provision for uncollectible receivables and loans		1,499	2,400
Straight-line rent write-off	6,456	2,470	3,694
Payment of discount on extinguishment of debt		(4,850)	(7,324)
Other adjustments	538	1,058	(30)
Decrease (increase) in:
Interest and rent receivable	(17,261)	(6,118)	(5,490)
Other assets	91	142	(566)
Accounts payable and accrued expenses	9,201	5,354	(3,177)
Deferred revenue	(2,698)	170	8,745
Net cash provided by operating activities	105,309	79,270	60,637
Investing activities
Cash paid for acquisitions and other related investments	(621,490)	(278,963)	(137,808)
Net proceeds from sale of real estate	71,202	41,130	97,669
Principal received on loans receivable	10,931	4,289	90,486
Investment in loans receivable	(1,293)	(861)	(11,637)
Construction in progress	(44,570)	(22,999)	(6,638)
Other investments, net	(31,908)	(8,217)	(9,291)
Net cash (used for) provided by investing activities	(617,128)	(265,621)	22,781
Financing activities
Proceeds from term debt, net of discount	300,000	450,000	148,500
Payments of term debt	(232)	(246,262)	(216,765)
Payment of deferred financing costs	(6,247)	(15,454)	(6,796)
Revolving credit facilities, net	35,400	89,600	(137,200)
Distributions paid	(103,952)	(89,601)	(77,087)
Lease deposits and other obligations to tenants	(11,436)	8,621	3,667
Proceeds from sale of common shares/units, net of offering costs	233,048		288,066
Other	(177)	(6,235)	(2,702)
Net cash provided by (used in) financing activities	446,404	190,669	(317)
Increase (decrease) in cash and cash equivalents for the year	(65,415)	4,318	83,101
Cash and cash equivalents at beginning of period	102,726	98,408	15,307
Cash and cash equivalents at end of period	37,311	102,726	98,408
Interest paid, including capitalized interest of $1,596 in 2012, $896 in 2011, and $63 in 2010	51,440	38,463	29,679
Supplemental schedule of non-cash investing activities:
Real estate acquired via assumption of mortgage loan		(14,592)
Loan conversion to equity interest	1,648
Mortgage loan issued from sale of real estate	3,650
Supplemental schedule of non-cash financing activities:
Assumption of mortgage loan (as part of real estate acquired)		14,592
Dividends declared, not paid	27,786	22,407	22,374
MPT Operating Partnership, L.P.
Operating Activities
Net income	90,077	26,731	23,087
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	35,593	35,477	26,312
Amortization and write-off of deferred financing costs and debt discount	3,457	9,289	6,110
Premium on extinguishment of debt		13,091	3,833
Direct financing lease (interest) accretion	(3,104)
Straight-line rent revenue	(8,309)	(7,142)	(4,932)
Share/Unit-based compensation expense	7,637	6,983	6,616
Impairment charge		564	12,000
(Gain) loss from sale of real estate	(16,369)	(5,431)	(10,566)
Provision for uncollectible receivables and loans		1,499	2,400
Straight-line rent write-off	6,456	2,470	3,694
Payment of discount on extinguishment of debt		(4,850)	(7,324)
Other adjustments	538	1,058	(30)
Decrease (increase) in:
Interest and rent receivable	(17,261)	(6,118)	(5,490)
Other assets	91	142	(566)
Accounts payable and accrued expenses	9,201	5,337	(3,252)
Deferred revenue	(2,698)	170	8,745
Net cash provided by operating activities	105,309	79,270	60,637
Investing activities
Cash paid for acquisitions and other related investments	(621,490)	(278,963)	(137,808)
Net proceeds from sale of real estate	71,202	41,130	97,669
Principal received on loans receivable	10,931	4,289	90,486
Investment in loans receivable	(1,293)	(861)	(11,637)
Construction in progress	(44,570)	(22,999)	(6,638)
Other investments, net	(31,908)	(8,217)	(9,291)
Net cash (used for) provided by investing activities	(617,128)	(265,621)	22,781
Financing activities
Proceeds from term debt, net of discount	300,000	450,000	148,500
Payments of term debt	(232)	(246,262)	(216,765)
Payment of deferred financing costs	(6,247)	(15,454)	(6,796)
Revolving credit facilities, net	35,400	89,600	(137,200)
Distributions paid	(103,952)	(89,601)	(77,087)
Lease deposits and other obligations to tenants	(11,436)	8,621	3,667
Proceeds from sale of common shares/units, net of offering costs	233,048		288,066
Other	(177)	(6,235)	(2,702)
Net cash provided by (used in) financing activities	446,404	190,669	(317)
Increase (decrease) in cash and cash equivalents for the year	(65,415)	4,318	83,101
Cash and cash equivalents at beginning of period	102,726	98,408	15,307
Cash and cash equivalents at end of period	37,311	102,726	98,408
Interest paid, including capitalized interest of $1,596 in 2012, $896 in 2011, and $63 in 2010	51,440	38,463	29,679
Supplemental schedule of non-cash investing activities:
Real estate acquired via assumption of mortgage loan		(14,592)
Loan conversion to equity interest	1,648
Mortgage loan issued from sale of real estate	3,650
Supplemental schedule of non-cash financing activities:
Assumption of mortgage loan (as part of real estate acquired)		14,592
Dividends declared, not paid	$ 27,786	$ 22,407	$ 22,374

Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Interest paid, capitalized	$ 1,596	$ 896	$ 63
MPT Operating Partnership, L.P.
Interest paid, capitalized	$ 1,596	$ 896	$ 63

Organization

12 Months Ended

Dec. 31, 2012

Organization

1.	Organization

Medical Properties Trust, Inc., a Maryland corporation, was formed on August 27, 2003, under the General Corporation Law of Maryland for the purpose of engaging in the business of investing in, owning, and leasing commercial real estate. Our operating partnership subsidiary, MPT Operating Partnership, L.P. (the “Operating Partnership”), through which we conduct all of our operations, was formed in September 2003. Through another wholly-owned subsidiary, Medical Properties Trust, LLC, we are the sole general partner of the Operating Partnership. At present, we directly own substantially all of the limited partnership interests in the Operating Partnership and have elected to report our required disclosures and that of the Operating Partnership on a combined basis except where material differences exist. MPT Finance Corporation is a wholly owned subsidiary of the Operating Partnership and was formed for the sole purpose of being a co-issuer of some of the Operating Partnership’s indebtedness. MPT Finance Corporation has no substantive assets or operations.

Our primary business strategy is to acquire and develop real estate and improvements, primarily for long term lease to providers of healthcare services such as operators of general acute care hospitals, inpatient physical rehabilitation hospitals, long-term acute care hospitals, surgery centers, centers for treatment of specific conditions such as cardiac, pulmonary, cancer, and neurological hospitals, and other healthcare-oriented facilities. We also make mortgage and other loans to operators of similar facilities. In addition, we may obtain profits or equity interests in our tenants (which we refer to as RIDEA investments), from time to time, in order to enhance our overall return. We manage our business as a single business segment.

- Definition

The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.

+ References

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Reference 14: http://www.xbrl.org/2003/role/presentationRef
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Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2012

Summary of Significant Accounting Policies

2.	Summary of Significant Accounting Policies

Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Principles of Consolidation: Property holding entities and other subsidiaries of which we own 100% of the equity or have a controlling financial interest evidenced by ownership of a majority voting interest are consolidated. All inter-company balances and transactions are eliminated. For entities in which we own less than 100% of the equity interest, we consolidate the property if we have the direct or indirect ability to control the entities’ activities based upon the terms of the respective entities’ ownership agreements. For these entities, we record a non-controlling interest representing equity held by non-controlling interests.

We continually evaluate all of our transactions and investments to determine if they represent variable interests in a variable interest entity (“VIE”). If we determine that we have a variable interest in a VIE, we then evaluate if we are the primary beneficiary of the VIE. The evaluation is a qualitative assessment as to whether we have the ability to direct the activities of a VIE that most significantly impact the entity’s economic performance. We consolidate each VIE in which we, by virtue of or transactions with our investments in the entity, are considered to be the primary beneficiary.

At December 31, 2012, we had loans and/or equity investments in certain VIEs, which are also tenants of our facilities (including but not limited to Ernest, Monroe and Vibra). We have determined that we are not the primary beneficiary of these VIEs. The carrying value and classification of the related assets and maximum exposure to loss as a result of our involvement with these VIEs are presented below at December 31, 2012 (in thousands):


VIE Type	Maximum Loss Exposure(1)		Asset Type Classification	Carrying Amount(2)
Loans, net		$272,454	Mortgage and other loans	$	228,831
Equity investments		$ 18,293	Other assets	$	5,341

(1)

Our maximum loss exposure related to loans with VIEs represents our current aggregate gross carrying value of the loan plus accrued interest and any other related assets (such as rents receivable), less any liabilities. Our maximum loss exposure related to our equity investment in VIEs represent the current carrying values of such investment plus any other related assets (such as rent receivables) less any liabilities.

(2)	Carrying amount reflects the net book value of our loan or equity interest only in the VIE.

For the VIE types above, we do not consolidate the VIE because we do not have the ability to control the activities (such as the day-to-day healthcare operations of our borrowers or investees) that most significantly impact the VIE’s economic performance. As of December 31, 2012, we were not required to provide financial support through a liquidity arrangement or otherwise to our unconsolidated VIEs, including circumstances in which it could be exposed to further losses (e.g., cash short falls).

Typically, our loans are collateralized by assets of the borrower (some assets of which are on the premises of facilities owned by us) and further supported by limited guarantees made by certain principals of the borrower.

See Note 3 for additional description of the nature, purpose and activities of our more significant VIEs and interests therein.

Investments in Unconsolidated Entities: Investments in entities in which we have the ability to influence (but not control) are typically accounted for by the equity method. Under the equity method of accounting, our share of the investee’s earnings or losses are included in our consolidated results of operations, and we have elected to record our share of such investee’s earnings or losses on a 90-day lag basis. The initial carrying value of investments in unconsolidated entities is based on the amount paid to purchase the interest in the investee entity. To the extent that our cost basis is different from the basis reflected at the investee entity level, the basis difference is generally amortized over the lives of the related assets and liabilities, and such amortization is included in our share of equity in earnings of the investee. We evaluate our equity method investments for impairment based upon a comparison of the fair value of the equity method investment to its carrying value. If we determine a decline in the fair value of an investment in an unconsolidated investee entity below its carrying value is other — than — temporary, an impairment is recorded.

Cash and Cash Equivalents: Certificates of deposit, short-term investments with original maturities of three months or less and money-market mutual funds are considered cash equivalents. The majority of our cash and cash equivalents are held at major commercial banks which at times may exceed the Federal Deposit Insurance Corporation limit. We have not experienced any losses to date on our invested cash. Cash and cash equivalents which have been restricted as to its use are recorded in other assets.

Revenue Recognition: We receive income from operating leases based on the fixed, minimum required rents (base rents) per the lease agreements. Rent revenue from base rents is recorded on the straight-line method over the terms of the related lease agreements for new leases and the remaining terms of existing leases for acquired properties. The straight-line method records the periodic average amount of base rent earned over the term of a lease, taking into account contractual rent increases over the lease term. The straight-line method typically has the effect of recording more rent revenue from a lease than a tenant is required to pay early in the term of the lease. During the later parts of a lease term, this effect reverses with less rent revenue recorded than a tenant is required to pay. Rent revenue as recorded on the straight-line method in the consolidated statements of income is presented as two amounts: billed rent revenue and straight-line revenue. Billed rent revenue is the amount of base rent actually billed to the customer each period as required by the lease. Straight-line rent revenue is the difference between rent revenue earned based on the straight-line method and the amount recorded as billed rent revenue. We record the difference between base rent revenues earned and amounts due per the respective lease agreements, as applicable, as an increase or decrease to straight-line rent receivable.

Certain leases provide for additional rents contingent upon a percentage of the tenant’s revenue in excess of specified base amounts/thresholds (percentage rents). Percentage rents are recognized in the period in which revenue thresholds are met. Rental payments received prior to their recognition as income are classified as deferred revenue. We may also receive additional rent (contingent rent) under some leases when the U.S. Department of Labor consumer price index exceeds the annual minimum percentage increase in the lease. Contingent rents are recorded as billed rent revenue in the period earned.

We use direct finance lease accounting (“DFL”) to record rent on certain leases deemed to be financing leases rather than operating leases. For leases accounted for as DFLs, the future minimum lease payments are recorded as a receivable. Unearned income represents the net investment in the DFL, less the sum of minimum lease payments receivable and the estimated residual values of the leased properties. Unearned income is deferred and amortized to income over the lease terms to provide a constant yield when collectability of the lease payments is reasonably assured. Investments in DFLs are presented net of unamortized and unearned income.

In instances where we have a profits or equity interest in our tenant’s operations, we record revenue equal to our percentage interest of the tenant’s profits, as defined in the lease or tenant’s operating agreements, once annual thresholds, if any, are met.

We begin recording base rent income from our development projects when the lessee takes physical possession of the facility, which may be different from the stated start date of the lease. Also, during construction of our development projects, we are generally entitled to accrue rent based on the cost paid during the construction period (construction period rent). We accrue construction period rent as a receivable and deferred revenue during the construction period. When the lessee takes physical possession of the facility, we begin recognizing the accrued construction period rent on the straight-line method over the remaining term of the lease.

We receive interest income from our tenants/borrowers on mortgage loans, working capital loans, and other long-term loans. Interest income from these loans is recognized as earned based upon the principal outstanding and terms of the loans.

Commitment fees received from development and leasing services for lessees are initially recorded as deferred revenue and recognized as income over the initial term of a lease to produce a constant effective yield on the lease (interest method). Commitment and origination fees from lending services are also recorded as deferred revenue and recognized as income over the life of the loan using the interest method.

Tenant payments for certain taxes, insurance, and other operating expenses related to our facilities (most of which are paid directly by our tenants to the government or related vendor) are recorded net of the respective expense as generally our leases are “triple-net” leases, with terms requiring such expenses to be paid by our tenants. Failure on the part of our tenants to pay such expense or to pay late would result in a violation of the lease agreement, which could lead to an event of default, if not cured.

Acquired Real Estate Purchase Price Allocation: We allocate the purchase price of acquired properties to net tangible and identified intangible assets acquired based on their fair values. In making estimates of fair values for purposes of allocating purchase prices of acquired real estate, we utilize a number of sources, from time to time, including independent appraisals that may be obtained in connection with the acquisition or financing of the respective property and other market data. We also consider information obtained about each property as a result of our pre-acquisition due diligence, marketing and leasing activities in estimating the fair value of the tangible and intangible assets acquired.

We record above-market and below-market in-place lease values, if any, for our facilities, which are based on the present value (using an interest rate which reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of the lease. We amortize any resulting capitalized above-market lease values as a reduction of rental income over the remaining non-cancelable terms of the respective leases. We amortize any resulting capitalized below-market lease values as an increase to rental income over the initial term and any fixed-rate renewal periods in the respective leases.

We measure the aggregate value of other lease intangible assets acquired based on the difference between (i) the property valued with new or in-place leases adjusted to market rental rates and (ii) the property valued as if vacant. Management’s estimates of value are made using methods similar to those used by independent appraisers (e.g., discounted cash flow analysis). Factors considered by management in our analysis include an estimate of carrying costs during hypothetical expected lease-up periods, considering current market conditions, and costs to execute similar leases. We also consider information obtained about each targeted facility as a result of our pre-acquisition due diligence, marketing, and leasing activities in estimating the fair value of the intangible assets acquired. In estimating carrying costs, management includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods, which we expect to be about six months. depending on specific local market conditions. Management also estimates costs to execute similar leases including leasing commissions, legal costs, and other related expenses to the extent that such costs are not already incurred in connection with a new lease origination as part of the transaction.

Other intangible assets acquired, may include customer relationship intangible values which are based on management’s evaluation of the specific characteristics of each prospective tenant’s lease and our overall relationship with that tenant. Characteristics to be considered by management in allocating these values include the nature and extent of our existing business relationships with the tenant, growth prospects for developing new business with the tenant, the tenant’s credit quality and expectations of lease renewals, including those existing under the terms of the lease agreement, among other factors.

We amortize the value of in-place leases, if any, to expense over the initial term of the respective leases. The value of customer relationship intangibles is amortized to expense over the initial term and any renewal periods in the respective leases, but in no event will the amortization period for intangible assets exceed the remaining depreciable life of the building. If a lease is terminated, the unamortized portion of the in-place lease value and customer relationship intangibles are charged to expense.

Real Estate and Depreciation: Real estate, consisting of land, buildings and improvements, are recorded at cost. Although typically paid by our tenants, any expenditures for ordinary maintenance and repairs that we pay are expensed to operations as incurred. Significant renovations and improvements which improve and/or extend the useful life of the asset are capitalized and depreciated over their estimated useful lives. We record impairment losses on long-lived assets used in operations when events and circumstances indicate that the assets might be impaired and the undiscounted cash flows estimated to be generated by those assets, including an estimated liquidation amount, during the expected holding periods are less than the carrying amounts of those assets. Impairment losses are measured as the difference between carrying value and fair value of assets. For assets held for sale, we cease recording depreciation expense and adjust the assets’ value to the lower of its carrying value or fair value, less cost of disposal. Fair value is based on estimated cash flows discounted at a risk-adjusted rate of interest. We classify real estate assets as held for sale when we have commenced an active program to sell the assets, and in the opinion of management, it is probable the asset will be sold within the next 12 months. We record the results of operations from material property sales or planned sales (which include real property, loans and any receivables) as discontinued operations in the consolidated statements of income for all periods presented if we do not have any continuing involvement with the property subsequent to its sale. Results of discontinued operations include interest expense from debt which specifically collateralizes the property sold or held for sale.

Construction in progress includes the cost of land, the cost of construction of buildings, improvements and fixed equipment, and costs for design and engineering. Other costs, such as interest, legal, property taxes and corporate project supervision, which can be directly associated with the project during construction, are also included in construction in progress. We commence capitalization of costs associated with a development project when the development of the future asset is probable and activities necessary to get the underlying property ready for its intended use have been initiated. We stop the capitalization of costs when the property is substantially complete and ready for its intended use.

Depreciation is calculated on the straight-line method over the weighted average useful lives of the related real estate and other assets, as follows:


Buildings and improvements			37.4 years
Tenant lease intangibles			15.7 years
Leasehold improvements			21.9 years
Furniture, equipment and other			9.5 years

Losses from Rent Receivables: For all leases, we continuously monitor the performance of our existing tenants including, but not limited to,: admission levels and surgery/procedure volumes by type; current operating margins; ratio of our tenant’s operating margins both to facility rent and to facility rent plus other fixed costs; trends in revenue and patient mix; and the effect of evolving healthcare regulations on tenant’s profitability and liquidity.

Losses from Operating Lease Receivables: We utilize the information above along with the tenant’s payment and default history in evaluating (on a property-by-property basis) whether or not a provision for losses on outstanding rent receivables is needed. A provision for losses on rent receivables (including straight-line rent receivables) is ultimately recorded when it becomes probable that the receivable will not be collected in full. The provision is an amount which reduces the receivable to its estimated net realizable value based on a determination of the eventual amounts to be collected either from the debtor or from existing collateral, if any.

Losses on DFL Receivables: Allowances are established for DFLs based upon an estimate of probable losses for the individual DFLs deemed to be impaired. DFLs are impaired when it is deemed probable that we will be unable to collect all amounts due in accordance with the contractual terms of the lease. Like operating lease receivables, the need for an allowance is based upon our assessment of the lessee’s overall financial condition; economic resources and payment record; the prospects for support from any financially responsible guarantors; and, if appropriate, the realizable value of any collateral. These estimates consider all available evidence including the expected future cash flows discounted at the DFL’s effective interest rate, fair value of collateral, and other relevant factors, as appropriate. DFLs are placed on non-accrual status when we determine that the collectability of contractual amounts is not reasonably assured. While on non-accrual status, we generally account for the DFLs on a cash basis, in which income is recognized only upon receipt of cash.

Loans: Loans consist of mortgage loans, working capital loans and other long-term loans. Mortgage loans are collateralized by interests in real property. Working capital and other long-term loans are generally collateralized by interests in receivables and corporate and individual guarantees. We record loans at cost. We evaluate the collectability of both interest and principal on a loan-by-loan basis (using the same process as we do for assessing the collectability of rents) to determine whether they are impaired. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of the allowance is calculated by comparing the recorded investment to either the value determined by discounting the expected future cash flows using the loan’s effective interest rate or to the fair value of the collateral if the loan is collateral dependent. When a loan is deemed to be impaired, we generally place the loan on non-accrual status and record interest income only upon receipt of cash.

Earnings Per Share/Units: Basic earnings per common share/unit is computed by dividing net income applicable to common shares/units by the weighted number of shares/units of common stock/units outstanding during the period. Diluted earnings per common share/units is calculated by including the effect of dilutive securities.

Certain of our unvested restricted and performance stock/unit awards contain non-forfeitable rights to dividends, and accordingly, these awards are deemed to be participating securities. These participating securities are included in the earnings allocation in computing both basic and diluted earnings per common share/unit.

Income Taxes: We conduct our business as a real estate investment trust (“REIT”) under Sections 856 through 860 of the Internal Revenue Code. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute to stockholders at least 90% of our REIT’s ordinary taxable income. As a REIT, we generally are not subject to federal income tax on taxable income that we distribute to our stockholders. If we fail to qualify as a REIT in any taxable year, we will then be subject to federal income taxes on our taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect our net income and net cash available for distribution to stockholders. However, we intend to operate in such a manner so that we will remain qualified as a REIT for federal income tax purposes.

Our financial statements include the operations of taxable REIT subsidiaries (“TRS”), including MPT Development Services, Inc. (“MDS”) and MPT Covington TRS, Inc. (“CVT”), along with 25 others, which are single member LLCs that are disregarded for tax purposes and are reflected in the tax returns of MDS. Our TRS entities are not entitled to a dividends paid deduction and are subject to federal, state, and local income taxes. Our TRS entities are authorized to provide property development, leasing, and management services for third-party owned properties, and they make loans to and/or investments in our lessees.

Given our income tax expense is typically not significant, we record such expense along with related penalties and interest, if any, in general administrative expenses.

Stock-Based Compensation: We currently sponsor the Second Amended and Restated Medical Properties Trust, Inc. 2004 Equity Incentive Plan (the “Equity Incentive Plan”) that was established in 2004. Awards of restricted stock, stock options and other equity-based awards with service conditions are amortized to compensation expense over the vesting periods which generally range from three to seven years, using the straight-line method. Awards of deferred stock units vest when granted and are charged to expense at the date of grant. Awards that contain market conditions are amortized to compensation expense over the derived vesting periods, which correspond to the periods over which we estimate the awards will be earned, which generally range from three to seven years, using the straight-line method. Awards with performance conditions are amortized using the straight-line method over the service period in which the performance conditions are measured, adjusted for the probability of achieving the performance conditions.

Deferred Costs: Costs incurred prior to the completion of offerings of stock or other capital instruments that directly relate to the offering are deferred and netted against proceeds received from the offering. External costs incurred in connection with anticipated financings and refinancings of debt are generally capitalized as deferred financing costs in other assets and amortized over the lives of the related loans as an addition to interest expense. For debt with defined principal re-payment terms, the deferred costs are amortized to produce a constant effective yield on the loan (interest method). For debt without defined principal repayment terms, such as revolving credit agreements, the deferred costs are amortized on the straight-line method over the term of the debt. Leasing commissions and other leasing costs directly attributable to tenant leases are capitalized as deferred leasing costs and amortized on the straight-line method over the terms of the related lease agreements. Costs identifiable with loans made to borrowers are recognized as a reduction in interest income over the life of the loan.

Derivative Financial Investments and Hedging Activities: During our normal course of business, we may use certain types of derivative instruments for the purpose of managing interest rate risk. We record our derivative and hedging instruments at fair value on the balance sheet. Changes in the estimated fair value of derivative instruments that are not designated as hedges or that do not meet the criteria for hedge accounting are recognized in earnings. For derivatives designated as cash flow hedges, the change in the estimated fair value of the effective portion of the derivative is recognized in accumulated other comprehensive income (loss), whereas the change in the estimated fair value of the ineffective portion is recognized in earnings. For derivatives designated as fair value hedges, the change in the estimated fair value of the effective portion of the derivatives offsets the change in the estimated fair value of the hedged item, whereas the change in the estimated fair value of the ineffective portion is recognized in earnings.

To qualify for hedge accounting, we formally document all relationships between hedging instruments and hedged items, as well as our risk management objective and strategy for undertaking the hedge prior to entering into a derivative transaction. This process includes specific identification of the hedging instrument and the hedge transaction, the nature of the risk being hedged and how the hedging instrument’s effectiveness in hedging the exposure to the hedged transaction’s variability in cash flows attributable to the hedged risk will be assessed. Both at the inception of the hedge and on an ongoing basis, we assess whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows or fair values of hedged items. In addition, for cash flow hedges, we assess whether the underlying forecasted transaction will occur. We discontinue hedge accounting if a derivative is not determined to be highly effective as a hedge or that is probable that the underlying forecasted transaction will not occur.

Exchangeable Senior Notes: In 2008, we issued exchangeable senior notes that, based upon the occurrence of specified events, are exchangeable for cash up to their principal amount and our common shares for the remainder of the exchange value in excess, if any, of the principal amount. The initial proceeds from the issuance of the exchangeable senior notes are required to be allocated between a liability component and an equity component such that the interest expense on the exchangeable senior notes is not recorded at the stated rate of interest but rather at an effective rate that reflects our borrowing rate on conventional debt at the date of issuance. We calculate the liability component of the exchangeable senior notes based on the present value of the contractual cash flows discounted at a comparable market rate for conventional debt at the date of issuance. The difference between the principal amount and the fair value of the liability component is reported as a discount on the exchangeable senior notes that is accreted as additional interest expense from the issuance date through the contractual maturity date using the effective interest method. The liability component of the exchangeable senior notes is reported net of discounts on our consolidated balance sheets. We calculate the equity component of the exchangeable senior notes based on the difference between the initial proceeds received from the issuance of the exchangeable senior notes and the fair value of the liability component at the issuance date. The equity component is included in additional paid-in-capital, net of issuance costs, on our consolidated balance sheets. We allocate issuance costs for exchangeable senior notes between the liability and the equity components based on their relative values.

Fair Value Measurement: We measure and disclose the estimated fair value of financial assets and liabilities utilizing a hierarchy of valuation techniques based on whether the inputs to a fair value measurement are considered to be observable or unobservable in a marketplace. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect our market assumptions. This hierarchy requires the use of observable market data when available. These inputs have created the following fair value hierarchy:

•

Level 1 — quoted prices for identical instruments in active markets;

•

Level 2 — quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and

•

Level 3 — fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

We measure fair value using a set of standardized procedures that are outlined herein for all assets and liabilities which are required to be measured at their estimated fair value on either a recurring or non-recurring basis. When available, we utilize quoted market prices from an independent third party source to determine fair value and classify such items in Level 1. In some instances where a market price is available, but the instrument is in an inactive or over-the-counter market, we consistently apply the dealer (market maker) pricing estimate and classify the asset or liability in Level 2.

If quoted market prices or inputs are not available, fair value measurements are based upon valuation models that utilize current market or independently sourced market inputs, such as interest rates, option volatilities, credit spreads, market capitalization rates, etc. Items valued using such internally-generated valuation techniques are classified according to the lowest level input that is significant to the fair value measurement. As a result, the asset or liability could be classified in either Level 2 or 3 even though there may be some significant inputs that are readily observable. Internal fair value models and techniques used by us include discounted cash flow and Monte Carlo valuation models. We also consider our counterparty’s and own credit risk on derivatives and other liabilities measured at their estimated fair value.

Fair Value Option Election: For our equity interest in Ernest and related loans (as more fully described in Note 3), we have elected to account for these investments at fair value due to the size of the investments and because we believe this method is more reflective of current values. We have not made a similar election for other equity interest or loans made in or prior to 2012.

Recent Accounting Developments: In January 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2013-02, Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU 2013-02”). The amendments in this update require an entity to provide information about the amounts reclassified from accumulated other comprehensive income by component. In addition, an entity is required to present, either on the face of the income statement or in the notes, significant amounts reclassified from accumulated other comprehensive income by the net income line item. We do not expect the adoption of ASU 2013-02 on January 1, 2013 to have an impact on its consolidated financial position or results of operations.

In July 2012, the FASB issued ASU No. 2012-02, Testing Indefinite-Lived Intangible Assets for Impairment (“ASU 2012-02”). The amendments in this update provide an entity with the option to make a qualitative assessment about the likelihood that an indefinite-lived intangible asset is impaired to determine whether it should perform a quantitative impairment test. The adoption of ASU 2012-02 on January 1, 2013, did not have an impact on our consolidated financial position or results of operations.

Reclassifications: Certain reclassifications have been made to the consolidated financial statements to conform to the 2012 consolidated financial statement presentation. Assets sold or held for sale have been reclassified to Real Estate Held for Sale on the consolidated balance sheets and related operating results have been reclassified from continuing operations to discontinued operations (see Note 11).

Real Estate and Loans Receivable

12 Months Ended

Dec. 31, 2012

Real Estate and Loans Receivable

3.	Real Estate and Loans Receivable

Acquisitions

We acquired the following assets:


	2012		2011			2010
Assets Acquired		(in thousands)
Land	$	518	$	19,705		$	8,227
Building		8,942		220,769			119,626
Intangible lease assets — subject to amortization (weighted average useful life 15.0 years in 2012 and 13.9 years in 2011)		1,040		20,630			9,955
Net investments in direct financing leases		310,000		—			—
Mortgage loans		200,000		—			—
Other loans		95,690		27,283			—
Equity investments		5,300		5,168			—

Total assets acquired	$	621,490	$	293,555		$	137,808
Total liabilities assumed		—		(14,592	)		—

Net assets acquired	$	621,490	$	278,963		$	137,808

2012 Activity

On February 29, 2012, we made loans to and acquired assets from Ernest for a combined purchase price and investment of $396.5 million, consisting of $200 million to purchase real estate assets, a first mortgage loan of $100 million, an acquisition loan for $93.2 million and an equity contribution of $3.3 million (“Ernest Transaction”).

Real Estate Acquisition and Mortgage Loan Financing

Pursuant to a definitive real property asset purchase agreement (the “Purchase Agreement”), we acquired from Ernest and certain of its subsidiaries (i) a portfolio of five rehabilitation facilities (including a ground lease interest relating to a community-based acute rehabilitation facility in Wyoming), (ii) seven long-term acute care facilities located in seven states and (iii) undeveloped land in Provo, Utah (collectively, the “Acquired Facilities”) for an aggregate purchase price of $200 million, subject to certain adjustments. The Acquired Facilities are leased to subsidiaries of Ernest pursuant to a master lease agreement. The master lease agreement has a 20-year term with three five-year extension options and provides for an initial rental rate of 9%, with consumer price-indexed increases, limited to a 2% floor and 5% ceiling annually thereafter. In addition, we made Ernest a $100 million loan secured by a first mortgage interest in four subsidiaries of Ernest, which has terms similar to the leasing terms described above.

Acquisition Loan and Equity Contribution

Through an affiliate of one of our TRSs, we made investments of approximately $96.5 million in Ernest Health Holdings, LLC (“Ernest Holdings”), which is the owner of Ernest. These investments, which are structured as a $93.2 million loan and a $3.3 million equity contribution generally provide that we will receive a preferential return of 15% of the loan amount and approximately 79% of the remaining earnings of Ernest. Ernest is required to pay us a minimum of 6% and 7% of the loan amount in years one and two, respectively, and 10% thereafter, although there are provisions in the loan agreement that are expected to result in full payment of the 15% preference when funds are sufficient. Any of the 15% in excess of the minimum that is not paid will be accrued and paid upon the occurrence of a capital or liquidity event and is payable at maturity. The loan may be prepaid without penalty at any time.

On July 3, 2012, we funded a $100 million mortgage loan secured by the real property of Centinela Hospital Medical Center. Centinela is a 369 bed acute care facility that is operated by Prime. This mortgage loan is cross-defaulted with other mortgage loans to Prime and certain master lease agreements. The initial term of this mortgage loan runs through 2022.

On September 19, 2012, we acquired the real estate of the 380 bed St. Mary’s Regional Medical Center, an acute care hospital in Reno, Nevada for $80 million and the real estate of the 140 bed Roxborough Memorial Hospital in Pennsylvania for $30 million. The acquired facilities are leased to Prime pursuant to a master lease agreement, which is more fully described below in the Leasing Operations section.

On December 14, 2012, we acquired the real estate of a 40 bed long-term acute care hospital in Hammond, Louisiana for $10.5 million and leased the facility to the operator under a 15-year lease, with three five-year extension options. The rent escalates annually based on consumer price indexed increases. As part of this transaction, we made a secured working capital loan of $2.0 million as well as a revolving loan of up to $2.5 million. In addition, we made a $2.0 million equity investment for a 25% equity ownership in the operator of this facility.

From the respective acquisition dates, these 2012 acquisitions contributed $46.3 million and $46.1 million of revenue and income (excluding related acquisition expenses) for the period ended December 31, 2012. In addition, we incurred $5.4 million of acquisition related expenses in 2012, of which $5.1 million related to acquisitions consummated as of December 31, 2012.

2011 Activity

On January 4, 2011, we acquired the real estate of the 19-bed, 4-year old Gilbert Hospital in a suburb of Phoenix, Arizona area for $17.1 million. Gilbert Hospital is operated by affiliates of Visionary Health, LLC, the same group that operates our Florence, Arizona facility. We acquired this asset subject to an existing lease that expires in May 2022. The lease contains three five-year extension options, and the rent escalates annually at 2.5%.

On January 31, 2011, we acquired for $23.5 million the real estate of the 60-bed Atrium Medical Center at Corinth in the Dallas area, a long-term acute care hospital that was completed in 2009 and is subject to a lease that expires in June 2024. The lease has an initial term of 15 years, contains two ten-year extension options, and the rent escalates annually based on consumer price indexed increases and to be not less than 1% or greater than 5%. In addition, through one of our affiliates, we invested $1.3 million to acquire approximately 19% of a joint venture arrangement with an affiliate of Vibra Healthcare, LLC (“Vibra”) that will manage and has acquired a 51% interest in the operations of the facility. We also made a $5.2 million working capital loan to the joint venture. The former operators of the hospital, comprised primarily of local physicians, retained ownership of 49% of the operating entity.

On February 4, 2011, we purchased for $58 million the real estate of Bayonne Medical Center, a 6-story, 278-bed acute care hospital in the New Jersey area of metropolitan New York, and leased the facility to the operator under a 15-year lease, with six five-year extension options. The rent escalates annually based on consumer price indexed increases. The operator is an affiliate of a private hospital operating company that acquired the hospital in 2008.

On February 9, 2011, we acquired the real estate of the 306-bed Alvarado Hospital in San Diego, California for $70 million from Prime Healthcare Services, Inc. (“Prime”). Prime is the operator of the facility.

On February 14, 2011, we completed the acquisition of the Northland LTACH Hospital located in Kansas City, a 35-bed hospital that opened in April 2008 and has a lease that expires in 2028. The lease contains three five-year extension options, and the rent increases annually at 2.75%. This hospital is currently being operated by Kindred Healthcare Inc. The purchase price of this hospital was $19.5 million, which included the assumption of a $15 million existing mortgage loan that matures in January 2018.

On July 18, 2011, we acquired the real estate of the 40-bed Vibra Specialty Hospital of DeSoto in Desoto, Texas for $13.0 million. This long-term acute care facility is leased to a subsidiary of Vibra for a fixed term of 15 years with three five-year extension options. Rent escalates annually based on consumer priced indexed increases. In addition, we made a $2.5 million equity investment in the operator of this facility for a 25% equity ownership.

On September 30, 2011, we purchased the real estate of a 40-bed long-term acute care facility in New Braunfels, Texas for $10.0 million. This facility is leased to an affiliate of Post Acute Medical, LLC for a fixed term of 15 years with three five-year extension options. Rent escalates annually based on consumer priced indexed increases. In addition, we made a $1.4 million equity investment for a 25% equity ownership in the operator of this facility and funded a $2.0 million working capital loan.

On October 14, 2011, we entered into agreements with a joint venture of Emerus Holding, Inc. and Baptist Health System, to acquire, provide for development funding and lease three acute care hospitals for $30.0 million in the suburban markets of San Antonio, Texas. The three facilities are subject to a master lease structure with an initial term of 15 years and three five-year extension options. Rent escalates annually based on consumer priced indexed increases and to be not less than one percent or greater than three percent. See section titled “Development Activities” for update on the status of these properties.

On November 4, 2011, we made investments in Hoboken University Medical Center in Hoboken, New Jersey, a 350-bed acute care facility. The total investment for this transaction was $75.0 million, comprising $50.0 million for the acquisition of an 100% ownership of the real estate, a secured working capital loan of up to $20.0 million ($15.1 million outstanding at December 31, 2012), and the purchase of a $5.0 million convertible note, which provides us with the option to acquire up to 25% of the hospital operator. The lease with the tenant has an initial term of 15 years, contains six five-year extension options, and the rent escalates annually based on consumer price indexed increases.

From the respective acquisition dates in 2011 through that year-end, these 2011 acquisitions contributed $21.2 million of revenue and $14.1 million of income (excluding related acquisition expenses). In addition, we incurred $4.2 million in acquisition related expenses in 2011, of which $1.9 million related to acquisitions consummated as of December 31, 2011.

2010 Activity

On June 17, 2010, we acquired three inpatient rehabilitation hospitals in Texas for an aggregate purchase price of $74 million. The properties acquired had existing leases in place, which we assumed, that have initial terms expiring in 2033. Each lease may, subject to conditions, be renewed by the operator for two additional ten-year terms.

In the fourth quarter of 2010, we acquired two long-term acute care hospital facilities in Texas for an aggregate purchase price of $64 million. The properties acquired had existing leases in place which we assumed. The Triumph Hospital Clear Lake, a 110-bed facility that opened in 2005, is subject to a lease maturing in 2025 and can be renewed by the lessee for two five-year terms. Triumph Hospital Tomball, a 75-bed facility that opened in August 2006, is subject to a lease that matures in 2026 and can be renewed by the lessee for two five-year terms.

From the respective acquisition dates in 2010 through that year-end, these 2010 acquisitions contributed $4.3 million of revenue and $3.4 million of income. In addition, we incurred approximately $2.0 million in acquisition related expenses in 2010, of which approximately $1.1 million related to acquisitions consummated as of December 31, 2010.

The results of operations for each of the properties acquired in 2012 and 2011 are included in our consolidated results from the effective date of each acquisition. The following table sets forth certain unaudited pro forma consolidated financial data for 2012 and 2011, as if each acquisition was consummated on the same terms at the beginning of 2011 and 2010, respectively. Supplemental pro forma earnings were adjusted to exclude $5.1 million and $1.9 million of acquisition-related costs on these consummated deals incurred during 2012 and 2011, respectively (dollar amounts in thousands except per share/unit data).


	2012		2011
	(Amounts in thousands except per share/unit amounts)
Total revenues	$	224,796	$	213,642
Net income		113,450		81,744
Net income per share/unit	$	0.84	$	0.60

Development Activities

On December 20, 2012, we entered into an agreement to finance the development of and lease an acute care facility in Altoona, Wisconsin for $33.5 million, which will be leased to an affiliate of National Surgical Hospitals. The facility is expected to be completed in the first quarter of 2014. We have funded $0.3 million through the end of 2012.

On October 1, 2012, we agreed to fund the construction of an inpatient rehabilitation hospital in Spartanburg, South Carolina that will be operated by Ernest. The estimated cost for the development is $18 million, and the construction is expected to be completed by the third quarter of 2013. We have funded $3.7 million through the end of 2012.

On June 13, 2012, we entered into an agreement with Ernest to fund the development of and lease a 40-bed rehabilitation hospital in Lafayette, Indiana. Total development cost is expected to be $16.6 million and the facility is set to open in the 2013 first quarter. We have funded $13.3 million through the end of 2012.

On May 4, 2012, we amended the current lease on our Victoria, Texas facility with Post Acute Medical to extend the current lease term to 2028, and we agreed to develop and lease a 26-bed facility next to the existing facility. The facilities will be operated as separate LTACH and rehabilitation hospitals. Total development cost of the new facility is estimated to be $9.4 million and it is expected to be completed in the third quarter of 2013. We have funded $1.9 million through the end of 2012.

On March 1, 2012, we received a certificate of occupancy for our recently constructed Florence acute care facility near Phoenix, Arizona. With this, we started recognizing rent on this facility in March 2012. During the construction period, we accrued and deferred rent based on the cost paid during the construction period. In March 2012, we began recognizing a portion of the accrued construction period rent along with interest on the unpaid amount. This accrued construction period rent will be recognized in our income statement and paid over the 25 year lease term. Land and building costs associated with this property approximates $30 million.

On October 1, 2012, we received a certificate of occupancy for one of the Emerus facilities. With this, we started recognizing and collecting rent in October 2012. Land and building costs associated with this property approximate $7.6 million. We expect the remaining facilities to be completed in the 2013 first quarter. Estimated remaining total development costs for the remaining two facilities approximate $3.7 million and $3.1 million. Through the end of 2012, $8.1 million and $10.9 million have been funded on those two properties.

In regard to our Twelve Oaks facility, re-development efforts continue; however approximately 55% of this facility became partially occupied as of February 20, 2013.

Disposals

On December 27, 2012, we sold our Huntington Beach facility for $12.5 million, resulting in a gain of $1.9 million. Due to this sale, we wrote-off $0.7 million of straight-line rent receivable.

During the third quarter of 2012, we entered into a definitive agreement to sell the real estate of two LTACH facilities, Thornton and New Bedford, to Vibra for total cash proceeds of $42 million. The sale of Thornton was completed on September 28, 2012, resulting in a gain of $8.4 million. Due to this sale, we wrote-off $1.6 million in straight-line rent receivables. The sale of New Bedford was completed on October 22, 2012, resulting in a gain of $7.2 million. Associated with this sale, we wrote-off $4.1 million in straight-line rent receivables in the fourth quarter 2012.

On August 21, 2012, we sold our Denham Springs facility for $5.2 million, resulting in a gain of $0.3 million.

On June 15, 2012, we sold the HealthSouth Rehabilitation Hospital of Fayetteville in Fayetteville, Arkansas for $16 million, resulting in a loss of $1.4 million. In connection with this sale, HealthSouth Corporation agreed to extend the lease on our Wichita, Kansas property, which is now set to end in March 2022.

On December 30, 2011, we sold Sherman Oaks Hospital in Sherman Oaks, California to Prime for $20.0 million, resulting in a gain of $3.1 million. Due to this sale, we wrote-off $1.2 million in straight-line rent receivables.

On December 30, 2011, we sold MountainView Regional Rehabilitation Hospital in Morgantown, West Virginia to HealthSouth Corporation for $21.1 million, resulting in a gain of $2.3 million.

In the fourth quarter 2010, we sold the real estate of our Montclair Hospital, an acute care medical centers to Prime for proceeds of $20.0 million. We realized a gain on the sale of $2.2 million. Due to this sale, we wrote-off $1.0 million in straight-line rent receivables.

In October 2010, we sold the real estate of our Sharpstown facility in Houston, Texas to a third party for net proceeds of $2.7 million resulting in a gain of $0.7 million.

In the second quarter 2010, we sold the real estate of our Inglewood Hospital, a 369-bed acute care medical center located in Inglewood, California, to Prime Healthcare, for $75 million resulting in a gain of approximately $6 million.

In the fourth quarter of 2009, we sold the real estate asset of one acute care facility to Prime for proceeds of $15.0 million, and we realized a gain on the sale of $0.3 million.

For each of these disposals, the operating results of these facilities for the current and all prior periods have been included in discontinued operations, and we have reclassified the related real estate to Real Estate Held for Sale.

Intangible Assets

At December 31, 2012 and 2011, our intangible lease assets were $52.8 million ($40.5 million, net of accumulated amortization) and $51.2 million ($42.5 million, net of accumulated amortization), respectively.

We recorded amortization expense related to intangible lease assets of $3.9 million, $5.2 million, and $3.2 million in 2012, 2011, and 2010, respectively, and expect to recognize amortization expense from existing lease intangible assets as follows: (amounts in thousands)


For the Year Ended December 31:
2013	$	3,351
2014		3,286
2015		3,097
2016		3,055
2017		3,046

As of December 31, 2012, capitalized lease intangibles have a weighted average remaining life of 14.1 years.

Leasing Operations

All of our leases are accounted for as operating leases except we are accounting for the master lease of 12 Ernest facilities and our Roxborough and Reno facilities as DFLs. The components of our net investment in DFLs consisted of the following (dollars in thousands):


	As of December 31, 2012
Minimum lease payments receivable	$	1,277,923
Estimated residual values		201,283
Less unearned income		(1,164,794	)

Net investment in direct financing leases	$	314,412

Minimum rental payments due to us in future periods under operating leases and DFL, which have non-cancelable terms extending beyond one year at December 31, 2012, are as follows: (amounts in thousands)


	Total Under Operating Leases		Total Under DFL		Total
2013	$	119,602	$	30,071	$	149,673
2014		118,150		30,672		148,822
2015		115,535		31,285		146,820
2016		115,976		31,911		147,887
2017		115,523		32,549		148,072
Thereafter		811,528		393,545		1,205,073

	$	1,396,314	$	550,033	$	1,946,347

On July 3, 2012, we entered into master lease agreements with certain subsidiaries of Prime, which replaced the then current leases with the same tenants covering the same properties. The master leases are for 10 years and contain two renewal options of five years each. The initial lease rate is generally consistent with the blended average rate of the prior lease agreements. However, the annual escalators, which in the prior leases were limited, have been increased to reflect 100% of consumer price index increases, along with a minimum floor. The master leases include repurchase options substantially similar to those in the prior leases, including provisions establishing minimum repurchase prices equal to our total investment.

In the 2011 fourth quarter, we consented to the sale by Vibra of its Dallas LTACH, for which we own the real estate to an affiliate of LifeCare Reit 2, Inc. (“LifeCare”) and LifeCare executed a restated lease agreement. As a result of this transaction, we wrote off the related straight line rent receivables of $1.3 million and accelerated the amortization of the related lease intangibles resulting in $0.6 million of expense in the 2011 fourth quarter.

In September 2010, we exchanged properties with one of our tenants. In exchange for our acute care facility in Cleveland, Texas, we received a similar acute care facility in Hillsboro, Texas. The lease that was in place on our Cleveland facility was carried over to the new facility with no change in lease term or lease rate. This exchange was accounted for at fair value, resulting in a gain of $1.3 million (net of $0.2 million from the write-off of straight-line rent receivables).

In March 2010, we re-leased our Covington facility. The lease has a fixed term of 15 years with an option, at the lessee’s discretion, to extend the term for three additional periods of five years each. Rent during 2010 was based on an annual rate of $1.4 million and, commencing on January 1, 2011, increases annually by 2%. At the end of each term, the tenant has the right to purchase the facility at a price generally equivalent to the greater of our undepreciated cost and fair market value. Separately, we also obtained an interest in the operations of the tenant whereby we may receive additional consideration based on the profitability of such operations.

In January 2009, the then-operator of our Bucks County facility gave notice of its intentions to close the facility. Although we were able to re-lease the facility in July 2009, we were owed outstanding rent from the previous owner. In the 2010 fourth quarter, we agreed to settle our $3.8 million claim of unpaid rent for $1.4 million resulting in a $2.4 million charge to earnings.

In the 2010 second quarter, Prime paid us $12 million in additional rent related to our Redding property. Of this $12 million in additional rent, $5.0 million has been recognized in income from lease inception through December 31, 2012, (including $1.2 million in each of 2012, 2011 and 2010) and we expect to recognize the remaining $7.0 million into income over the remainder of the initial lease term.

Monroe Facility

As of December 31, 2012, we have advanced $29.9 million to the operator/lessee of Monroe Hospital in Bloomington, Indiana pursuant to a working capital loan agreement, including $1.3 million in advances during 2012. In addition, as of December 31, 2012, we have $20.1 million of rent, interest and other charges owed to us by the operator, of which $5.8 million of interest receivables are significantly more than 90 days past due. Because the operator has not made all payments required by the working capital loan agreement and the related real estate lease agreement, we consider the loan to be impaired. During 2010, we recorded a $12 million impairment charge on the working capital loan and recorded a valuation allowance for unbilled straight-line rent in the amount of $2.5 million. We have not recognized any interest income on the Monroe loan since it was considered impaired and have not recorded any unbilled rent since 2010.

At December 31, 2012, our net investment (exclusive of the related real estate) of approximately $38 million is our maximum exposure to Monroe and the amount is deemed collectible/recoverable. In making this determination, we considered our first priority secured interest in approximately (i) $5 million in hospital patient receivables, (ii) cash balances of approximately $0.4 million, (iii) our assessment of the realizable value of our other collateral and (iv) continued improvement in operational revenue statistics compared to previous years. However, no assurances can be made that we will not have additional charges for further impairment of our working capital loan in the future.

On September 4, 2012, Monroe Hospital entered into a four-year agreement with St. Vincent Health, Inc. whereby St. Vincent will manage the operations of the hospital. At the same time we agreed with St. Vincent to exclusively negotiate the terms of a possible sale or lease of the hospital real estate by the end of such four year term. St. Vincent is a member of Ascension Health, the largest Catholic health care system in the country. However, there is no assurance that we will reach a satisfactory agreement with St.Vincent, and St. Vincent has certain rights to terminate the management agreement during the four year term.

Loans

The following is a summary of our loans ($ amounts in thousands):


	As of December 31, 2012					As of December 31, 2011
	Balance		Weighted Average Interest Rate			Balance		Weighted Average Interest Rate
Mortgage loans	$	368,650		10.0	%	$	165,000		10.2	%
Other loans		159,243		13.2	%		74,839		10.5	%

	$	527,893				$	239,839

Our mortgage loans cover 9 of our properties with three operators. The increase from 2011 is primarily related to the $100 million loan to Ernest and $100 million to Prime for the Centinela property.

Including our working capital loans to Monroe, our other loans typically consist of loans to our tenants for acquisitions and working capital purposes. Our $93.2 million acquisition loan with Ernest and our Hoboken convertible loan are also included in other loans.

On March 1, 2012, pursuant to our convertible note agreement, we converted $1.6 million of our $5.0 million convertible note into a 9.9% equity interest in the operator of our Hoboken University Medical Center facility. At December 31, 2012, $3.4 million remains outstanding on the convertible note, and we retain the option, through November 2014, to convert this remainder into an additional 15.1% equity interest in the operator.

Concentration of Credit Risks

For the year ended December 31, 2012, revenue from affiliates of Ernest (including rent and interest from mortgage and acquisition loans) accounted for 18.6% of total revenue. From an investment concentration perspective, Ernest represented 18.2% of our total assets at December 31, 2012.

For the years ended December 31, 2012 and 2011, revenue from affiliates of Prime (including rent and interest from mortgage loans) accounted for 27.3% and 30.8%, respectively, of total revenue. From an investment concentration perspective, Prime represented 27.9% and 25.3% of our total assets at December 31, 2012 and December 31, 2011, respectively.

On an individual property basis, we had no investment of any single property greater than 5% of our total assets as of December 31, 2012.

From a geographic perspective, all of our properties are located in the United States with 24.0% of our total assets at December 31, 2012 located in California.

Related Party Transactions

Lease and interest revenue earned from tenants in which we have an equity interest in were $54.3 million, $5.5 million and $1.8 million in 2012, 2011 and 2010, respectively.

Debt

12 Months Ended

Dec. 31, 2012

Debt

Debt

The following is a summary of debt ($ amounts in thousands):


	As of December 31, 2012				As of December 31, 2011
	Balance			Interest Rate	Balance			Interest Rate
Revolving credit facilities	$	125,000		Variable	$	89,600		Variable
2006 Senior Unsecured Notes		125,000		Various		125,000		Various
2011 Senior Unsecured Notes		450,000		6.875%		450,000		6.875%
2012 Senior Unsecured Notes		200,000		6.375%		—
Exchangeable senior notes
Principal amount		11,000		9.250%		11,000		9.250%
Unamortized discount		(37	)			(180	)

		10,963				10,820

Term loans		114,197		Various		14,429		6.200%

	$	1,025,160			$	689,849

As of December 31, 2012, principal payments due on our debt (which exclude the effects of any discounts recorded) are as follows:


2013	$	11,249
2014		265
2015		125,283
2016		225,299
2017		320
Thereafter		662,781

Total	$	1,025,197

To help fund the 2012 acquisitions disclosed in Note 3, on February 17, 2012, we completed a $200 million offering of senior unsecured notes (“2012 Senior Unsecured Notes”), resulting in net proceeds, after underwriting discount, of $196.5 million. These 2012 senior unsecured notes accrue interest at a fixed rate of 6.375% per year and mature on February 15, 2022. The 2012 Senior Unsecured Notes include covenants substantially consistent with our 2011 Senior Unsecured Notes. In addition, on March 9, 2012, we closed on a $100 million senior unsecured term loan facility (“2012 Term Loan”).

In April 2011, our Operating Partnership and a wholly-owned subsidiary of our Operating Partnership closed on an offering of $450 million unsecured senior notes (“2011 Senior Unsecured Notes”) and used proceeds for general corporate purposes including paying off shorter-term debt. In the 2011 third quarter, we used proceeds from our 2011 senior unsecured notes offering to repurchase 86.6% of the outstanding 9.25% exchangeable senior notes due 2013 at a weighted average price of 118.4% of the principal amount (or $84.1 million) plus accrued and unpaid interest pursuant to a cash tender offer. In connection with these 2011 refinancing activities, we recognized charges of $14.2 million related to the write-off of previously deferred loan costs and discounts associated with the payoff of the debt instruments noted above.

Revolving Credit Facilities

In March 2012, we exercised the $70 million accordion feature on our unsecured revolving credit facility, increasing the capacity from $330 million to $400 million. The unsecured revolving credit facility matures in October 2015. The interest rate is (1) the higher of the “prime rate” or federal funds rate plus 0.5%, plus a spread initially set at 1.60%, but that is adjustable from 1.60% to 2.40% based on current total leverage, or (2) LIBOR plus a spread initially set at 2.60%, but that is adjustable from 2.60% to 3.40% based on current total leverage. Interest rate spread was 2.85% at December 31, 2012 and 2011. In addition to interest expense, we are required to pay a quarterly commitment fee on the undrawn portion of the revolving credit facility, ranging from 0.375% to 0.500% per year. At December 31, 2012 and 2011, our outstanding balance on the revolving credit facility was $125 million and $50 million, respectively. At December 31, 2012, our availability under our revolving credit facility was $275 million. The weighted average interest rate on this facility was 3.2% for 2012 and 2011, respectively.

In June 2007, we signed a collateralized revolving bank credit facility for up to $42 million. The terms were for five years with interest at the 30-day LIBOR plus 1.50% (1.80% at December 31, 2011). This facility had an outstanding balance of $39.6 million at December 31, 2011 and the facility expired in June 2012. At December 31, 2011, we had $0 million of availability under this revolving credit facility. The weighted-average interest rate on this revolving bank credit facility was 1.8% and 1.6% for 2012 and 2011, respectively.

2012 Senior Unsecured Notes

On February 17, 2012, we completed a $200 million offering of senior unsecured notes (“2012 Senior Unsecured Notes”), resulting in net proceeds, after underwriting discount, of $196.5 million. These 2012 senior unsecured notes accrue interest at a fixed rate of 6.375% per year and mature on February 15, 2022. Interest on these notes is payable semi-annually on February 15 and August 15 of each year. We may redeem some or all of the 2012 Senior Unsecured Notes at any time prior to February 15, 2017 at a “make-whole” redemption price. On or after February 15, 2017, we may redeem some or all of the 2012 Senior Unsecured Notes at a premium that will decrease over time, plus accrued and unpaid interest to, but not including, the redemption date. The 2012 Senior Unsecured Notes are guaranteed, jointly and severally, on an unsecured basis, by certain subsidiary guarantors. In the event of a Change of Control, each holder of the 2012 senior unsecured notes may require us to repurchase some or all of its 2012 senior unsecured notes at a repurchase price equal to 101% of the aggregate principal amount plus accrued and unpaid interest to the date of purchase.

2011 Senior Unsecured Notes

On April 26, 2011, our Operating Partnership and a wholly-owned subsidiary of our Operating Partnership closed on a private placement of $450 million aggregate principal amount of 6.875% Senior Notes due 2021 (the “2011 Senior Unsecured Notes”) to qualified institutional buyers in reliance on Rule 144A under the Securities Act. The 2011 Senior Unsecured Notes were subsequently registered under the Securities Act pursuant to an exchange offer. Interest on the 2011 Senior Unsecured Notes is payable semi-annually on May 1 and November 1 of each year. The 2011 Senior Unsecured Notes pay interest in cash at a rate of 6.875% per year and mature on May 1, 2021. We may redeem some or all of the 2011 Senior Unsecured Notes at any time prior to May 1, 2016 at a “make-whole” redemption price. On or after May 1, 2016, we may redeem some or all of the 2011 Senior Unsecured Notes at a premium that will decrease over time, plus accrued and unpaid interest to, but not including, the redemption date. The 2011 Senior Unsecured Notes are guaranteed, jointly and severally, on an unsecured basis, by the certain subsidiary guarantors. In the event of a Change of Control, each holder of the 2011 Senior Unsecured Notes may require us to repurchase some or all of its 2011 Senior Unsecured Notes at a repurchase price equal to 101% of the aggregate principal amount plus accrued and unpaid interest to the date of purchase.

2006 Senior Unsecured Notes

During 2006, we issued $125.0 million of Senior Unsecured Notes (the “2006 Senior Unsecured Notes”). The 2006 Senior Unsecured Notes were placed in private transactions exempt from registration under the Securities Act of 1933, as amended, (the “Securities Act”). One of the issuances of 2006 Senior Unsecured Notes totaling $65.0 million paid interest quarterly at a fixed annual rate of 7.871% through July 30, 2011, thereafter, at a floating annual rate of three-month LIBOR plus 2.30% and can be called at par value by us at any time. This portion of the 2006 Senior Unsecured Notes matures in July 2016. The remaining issuances of Senior Unsecured Notes paid interest quarterly at fixed annual rates ranging from 7.333% to 7.715% through October 30, 2011, thereafter, at a floating annual rate of three-month LIBOR plus 2.30% and can also called at par value by us at any time. These remaining notes mature in October 2016.

During the second quarter 2010, we entered into an interest rate swap to manage our exposure to variable interest rates by fixing $65 million of our $125 million Senior Notes, which started July 31, 2011 (date on which the interest rate turned variable) through maturity date (or July 2016), at a rate of 5.507%. We also entered into an interest rate swap to fix $60 million of 2006 Senior Unsecured Notes which started October 31, 2011 (date on which the related interest rate turned variable) through the maturity date (or October 2016) at a rate of 5.675%. At December 31, 2012 and 2011, the fair value of the interest rate swaps was $12.5 million and $12.2 million, respectively, which is reflected in accounts payable and accrued expenses on the consolidated balance sheets.

We account for our interest rate swaps as cash flow hedges. Accordingly, the effective portion of changes in the fair value of our swaps is recorded as a component of accumulated other comprehensive income/loss on the balance sheet and reclassified into earnings in the same period, or periods, during which the hedged transactions effects earnings, while any ineffective portion is recorded through earnings immediately. We did not have any hedge ineffectiveness from inception of our interest rate swaps through December 31, 2012 and therefore, there was no income statement effect recorded during the years ended December 31, 2012, 2011, and 2010. We do not expect any of the current losses included in accumulated other comprehensive loss to be reclassified into earnings in the next 12 months.

As noted above under the heading “Revolving Credit Facilities”, our revolving credit facility went unsecured as of the end of June 2011. This change triggered a collateral posting event under our interest rate swap. At December 31, 2012 and 2011, we have posted $6.6 million and $6.3 million of collateral, respectively, which is reflected in other assets on our consolidated balance sheets.

Exchangeable Senior Notes

In March 2008, our Operating Partnership issued and sold, in a private offering, $75.0 million of Exchangeable Senior Notes (the “2008 Exchangeable Notes”) and received proceeds of $72.8 million. In April 2008, the Operating Partnership sold an additional $7.0 million of the 2008 Exchangeable Notes (under the initial purchasers’ overallotment option) and received proceeds of $6.8 million. The 2008 Exchangeable Notes pay interest semi-annually at a rate of 9.25% per annum and mature on April 1, 2013. The 2008 Exchangeable Notes have an initial exchange rate of 80.8898 shares of our common stock per $1,000 principal amount, representing an exchange price of $12.36 per common share. The initial exchange rate is subject to adjustment under certain circumstances. The 2008 Exchangeable Notes are exchangeable prior to the close of business on the second day immediately preceding the stated maturity date at any time beginning on January 1, 2013, and also upon the occurrence of specified events, for cash up to their principal amounts and our common shares for the remainder of the exchange value in excess of the principal amount. The 2008 Exchangeable Notes are senior unsecured obligations of the Operating Partnership, guaranteed by us.

In July 2011, we used a portion of the proceeds from the 2011 senior unsecured notes to repurchase 85% of the outstanding 2008 Exchangeable Notes at a price of 118.5% of the principal amount plus accrued and unpaid interest (or $84.2 million) pursuant to a cash tender offer. Additionally, in August 2011, we repurchased $1.5 million of the outstanding 2008 Exchangeable Notes in the open market. The outstanding aggregate principal amount of the 2008 Exchangeable Notes is $11.0 million as of December 31, 2012.

Term Loans

As noted previously, we closed on the 2012 Term Loan for $100 million on March 9, 2012 (“2012 Term Loan”). The 2012 Term Loan facility has an interest rate option of (1) LIBOR plus an initial spread of 2.25% or (2) the higher of the “prime rate”, federal funds rate plus 0.5%, or Eurodollar rate plus 1.0%, plus an initial spread of 1.25%. The interest rate in effect at December 31, 2002 was 2.47%. The 2012 Term Loan facility is scheduled to mature on March 9, 2016, but we have the option to extend the facility one year to March 9, 2017.

In connection with our acquisition of the Northland LTACH Hospital on February 14, 2011, we assumed a $14.6 million mortgage. The Northland mortgage loan requires monthly principal and interest payments based on a 30-year amortization period. The Northland mortgage loan has a fixed interest rate of 6.2%, matures on January 1, 2018 and can be prepaid after January 1, 2013, subject to a certain prepayment premium. At December 31, 2012, the remaining balance on this term loan was $14.2 million. The loan was collateralized by one real estate property with a net book value of $17.2 million and $17.6 million at December 31, 2012 and 2011, respectively.

Covenants

Our debt facilities impose certain restrictions on us, including restrictions on our ability to: incur debts; create or incur liens; provide guarantees in respect of obligations of any other entity; make redemptions and repurchases of our capital stock; prepay, redeem or repurchase debt; engage in mergers or consolidations; enter into affiliated transactions; dispose of real estate or other assets; and change our business. In addition, the credit agreements governing our revolving credit facility and 2012 Term Loan limit the amount of dividends we can pay as a percentage of normalized adjusted funds from operations, as defined in the agreements, on a rolling four quarter basis. Through the year ending December 31, 2012, the dividend restriction was 105% of normalized adjusted FFO. Thereafter, a similar dividend restriction exists but the percentage drops each quarter until reaching 95% at June 30, 2013 and thereafter. The indentures governing our 2011 and 2012 Senior Unsecured Notes also limit the amount of dividends we can pay based on the sum of 95% of funds from operations, proceeds of equity issuances and certain other net cash proceeds. Finally, our 2011 and 2012 Senior Unsecured Notes require us to maintain total unencumbered assets (as defined in the related indenture) of not less than 150% of our unsecured indebtedness.

In addition to these restrictions, the revolving credit facility and 2012 Term Loan contain customary financial and operating covenants, including covenants relating to our total leverage ratio, fixed charge coverage ratio, mortgage secured leverage ratio, recourse mortgage secured leverage ratio, consolidated adjusted net worth, facility leverage ratio, and unsecured interest coverage ratio. This facility also contains customary events of default, including among others, nonpayment of principal or interest, material inaccuracy of representations and failure to comply with our covenants. If an event of default occurs and is continuing under the facility, the entire outstanding balance may become immediately due and payable. At December 31, 2012, we were in compliance with all such financial and operating covenants.

Income Taxes

12 Months Ended

Dec. 31, 2012

Income Taxes

5.	Income Taxes

Medical Properties Trust, Inc.

We have maintained and intend to maintain our election as a REIT under the Internal Revenue Code of 1986, as amended. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement to distribute at least 90% of our taxable income to our stockholders. As a REIT, we generally will not be subject to federal income tax if we distribute 100% of our taxable income to our stockholders and satisfy certain other requirements. Income tax is paid directly by our stockholders on the dividends distributed to them. If our taxable income exceeds our dividends in a tax year, REIT tax rules allow us to designate dividends from the subsequent tax year in order to avoid current taxation on undistributed income. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income taxes at regular corporate rates, including any applicable alternative minimum tax. Taxable income from non-REIT activities managed through our taxable REIT subsidiaries is subject to applicable federal, state and local income taxes. For 2012, 2011 and 2010, we recorded tax expense of $0.1 million, $0.1 million and $1.6 million, respectively.

At December 31, 2012 and 2011, we had a net deferred tax asset (prior to valuation allowance) of $8.5 million and $8.7 million respectively. This net deferred tax asset was partially generated by federal and state net operating loss carry forwards (“NOLs”) at our MDS TRS. At December 31, 2012, we had U.S. federal and state NOLs of $10.6 million and $10.8 million, respectively, that expire in 2020 through 2031.

Based on the historical losses and without consideration of future new sources of profitability, there is insufficient evidence at present that MDS will generate enough taxable income to use the federal and state net operating losses noted above within the carry forward period specified by law. Therefore, we continue to fully reserve for the net deferred tax asset. At December 31, 2012 and 2011, the valuation allowance was $8.5 million and $8.9 million, respectively. We will continue to monitor this valuation allowance and, if circumstances change (such as entering into new working capital loans, equity investments or other transactions), we will adjust this valuation allowance accordingly.

Earnings and profits, which determine the taxability of distributions to stockholders, will differ from net income reported for financial reporting purposes due primarily to differences in cost basis, differences in the estimated useful lives used to compute depreciation, and differences between the allocation of our net income and loss for financial reporting purposes and for tax reporting purposes.

A schedule of per share distributions we paid and reported to our stockholders is set forth in the following:


	For the Years Ended December 31,
	2012		2011		2010
Common share distribution	$	0.800000	$	0.800000	$	0.800000
Ordinary income		0.601216		0.300844		0.388128
Capital gains(1)		0.117584		0.031396		0.027724
Unrecaptured Sec. 1250 gain		0.086976		0.031396		0.022784
Return of capital		0.081200		0.467760		0.384148
Allocable to next year		—		—		—

(1)	Capital gains include unrecaptured Sec. 1250 gains.

MPT Operating Partnership, L.P.

As a partnership, the allocated share of income of the Operating Partnership is included in the income tax returns of the general and limited partners. Accordingly, no accounting for income taxes is generally required for such income of the Operating Partnership. However, the Operating Partnership has formed taxable REIT subsidiaries on behalf of Medical Properties Trust, Inc., which are subject to federal, state and local income taxes at regular corporate rates. See discussion above under Medical Properties Trust, Inc. for more details of income taxes associated with our taxable REIT subsidiaries.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(h))
-URI http://asc.fasb.org/extlink&oid=6881521&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32559-109319

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32718-109319

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32639-109319

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6907707&loc=d3e32537-109319

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 136, 172
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 08
-Paragraph h
-Article 4

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 109
-Paragraph 43, 44, 45, 46, 47, 48, 49
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Earnings Per Share/Unit

12 Months Ended

Dec. 31, 2012

Earnings Per Share/Unit

6.	Earnings Per Share/Unit

Medical Properties Trust, Inc.

Our earnings per share were calculated based on the following (amounts in thousands):


	For the Years Ended December 31,
	2012			2011			2010
Numerator:
Income from continuing operations	$	75,393		$	14,519		$	3,029
Non-controlling interests’ share in continuing operations		(177	)		(178	)		(99	)
Participating securities’ share in earnings		(886	)		(1,090	)		(1,254	)

Income from continuing operations, less participating securities’ share in earnings		74,330			13,251			1,676
Income from discontinued operations attributable to MPT common stockholders		14,684			12,195			19,983

Net income, less participating securities’ share in earnings	$	89,014		$	25,446		$	21,659

Denominator:
Basic weighted-average common shares		132,331			110,623			100,706
Dilutive stock options		2			6			2

Diluted weighted-average common shares		132,333			110,629			100,708

MPT Operating Partnership, L.P.

Our earnings per unit were calculated based on the following (amounts in thousands):


	For the Years Ended December 31,
	2012			2011			2010
Numerator:
Income from continuing operations	$	75,393		$	14,536		$	3,104
Non-controlling interests’ share in continuing operations		(177	)		(178	)		(99	)
Participating securities’ share in earnings		(886	)		(1,090	)		(1,254	)

Income from continuing operations, less participating securities’ share in earnings		74,330			13,268			1,751
Income from discontinued operations attributable to MPT Operating Partnership partners		14,684			12,195			19,983

Net income, less participating securities’ share in earnings	$	89,014		$	25,463		$	21,734

Denominator:
Basic weighted-average units		132,331			110,623			100,706
Dilutive options		2			6			2

Diluted weighted-average units		132,333			110,629			100,708

For each of the years ended December 31, 2012, 2011, and 2010, approximately 0.1 million of options were excluded from the diluted earnings per share/unit calculation as they were not determined to be dilutive. Shares/units that may be issued in the future in accordance with our exchangeable senior notes were excluded from the diluted earnings per share/unit calculation as they were not determined to be dilutive.

Stock Awards

12 Months Ended

Dec. 31, 2012

Stock Awards

7.	Stock Awards

Stock Awards

We have adopted the Second Amended and Restated Medical Properties Trust, Inc. 2004 Equity Incentive Plan (the “Equity Incentive Plan”), which authorizes the issuance of common stock options, restricted stock, restricted stock units, deferred stock units, stock appreciation rights, performance units and awards of interests in our Operating Partnership. The Equity Incentive Plan is administered by the Compensation Committee of the Board of Directors. We have reserved 7,441,180 shares of common stock for awards under the Equity Incentive Plan for which 1,489,812 shares remain available for future stock awards as of December 31, 2012. The Equity Incentive Plan contains a limit of 1,000,000 shares as the maximum number of shares of common stock that may be awarded to an individual in any fiscal year. Awards under the Equity Incentive Plan are subject to forfeiture due to termination of employment prior to vesting. In the event of a change in control, outstanding and unvested options will immediately vest, unless otherwise provided in the participant’s award or employment agreement, and restricted stock, restricted stock units, deferred stock units and other stock-based awards will vest if so provided in the participant’s award agreement. The term of the awards is set by the Compensation Committee, though Incentive Stock Options may not have terms of more than ten years. Forfeited awards are returned to the Equity Incentive Plan and are then available to be re-issued as future awards. For each share of common stock issued by Medical Properties Trust, Inc. pursuant to its Equity Incentive Plan, the Operating Partnership issues a corresponding number of operating partnership units.

The following awards have been granted pursuant to our Equity Incentive Plan:

Stock Options.

At December 31, 2012, we had 60,000 options outstanding and exercisable, with a weighted-average exercise price of $10.00 per option. The intrinsic value of options exercisable and outstanding at December 31, 2012, is $-0-. In 2012, 50,000 options forfeited and 20,000 options were settled for cash in 2011. No options were granted or exercised in 2012, 2011, or 2010. The weighted average remaining contractual term of options exercisable and outstanding is 1.6 years.

Restricted Equity Awards

Other stock-based awards are in the form of service-based awards and performance-based awards. The service-based awards vest as the employee provides the required service over periods that range from three to seven years. Service based awards are valued at the average price per share of common stock on the date of grant. In 2012, 2011, 2010, and 2007, the Compensation Committee granted awards to employees which vest based on us achieving certain performance levels, stock price levels, total shareholder return or comparisons to peer total return indices. Generally, dividends are not paid on these performance awards until the award is earned. See below for details of such grants:

2012 performance awards - The 2012 performance awards were granted in three parts:

Approximately 30% of the 2012 performance awards are based on us achieving a simple 9.0% annual total shareholder return over a three year period; however, the award contains both carry forward and carry back provisions through December 31, 2016. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 0.93%; expected volatility of 34%; expected dividend yield of 8.6%; and expected service period of 4 years.

Approximately 35% of the 2012 performance awards are based on us achieving a cumulative total shareholder return from January 1, 2012 to December 31, 2014. The minimum total shareholder return needed to earn a portion of this award is 27% with 100% of the award earned if our total shareholder return reaches 35%. If any shares are earned from this award, the shares will vest in equal annual amounts on January 1, 2015, 2016 and 2017. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 0.43%; expected volatility of 35%; expected dividend yield of 8.6%; and expected service period of 5 years.

The remainder of the 2012 performance awards will be earned if our total shareholder return outpaces that of the MSCI U.S. REIT Index (“Index”) over the cumulative period from January 1, 2012 to December 31, 2014. Our total shareholder return must exceed that of the Index to earn the minimum number of shares under this award, while it must exceed the Index by 6% to earn 100% of the award. If any shares are earned from this award, the shares will vest in equal annual amounts on January 1, 2015, 2016 and 2017. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 0.43%; expected volatility of 35%; expected dividend yield of 8.6%; and expected service period of 5 years.

There were 92,094 of the 2012 performance awards earned in 2012. At December 31, 2012, we have 804,547 of 2012 performance awards remaining to be earned.

2011 performance awards - The 2011 performance awards were granted in three parts:

Approximately 30% of the 2011 performance awards are based on us achieving a simple 9.0% annual total shareholder return over a three year period; however, the award contains both carry forward and carry back provisions through December 31, 2015. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 2.07%; expected volatility of 33%; expected dividend yield of 8.5%; and expected service period of 4 years.

Approximately 18% of the 2011 performance awards are based on us achieving a cumulative total shareholder return from January 1, 2011 to December 31, 2013. The minimum total shareholder return needed to earn a portion of this award is 27% with 100% of the award earned if our total shareholder return reaches 39%. If any shares are earned from this award, the shares will vest in equal annual amounts on January 1, 2014, 2015 and 2016. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 1.07%; expected volatility of 34%; expected dividend yield of 8.5%; and expected service period of 5 years.

The remainder of the 2011 performance awards will be earned if our total shareholder return outpaces that of the Index over the cumulative period from January 1, 2011 to December 31, 2013. Our total shareholder return must exceed that of the Index to earn the minimum number of shares under this award, while it must exceed the Index by 12% to earn 100% of the award. If any shares are earned from this award, the shares will vest in equal annual amounts on January 1, 2014, 2015 and 2016. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 1.07%; expected volatility of 34%; expected dividend yield of 8.5%; and expected service period of 5 years.

There were 147,256 of the 2011 performance awards earned in 2012, but none in 2011. At December 31, 2012, we have 684,851 of 2011 performance awards remaining to be earned

2010 performance awards - The 2010 performance awards are based on us achieving a simple 9.5% annual total shareholder return over a three year period; however, the award contains both carry forward and carry back provisions through December 31, 2014. The fair value of this award was estimated on the date of grant using a Monte Carlo valuation model that assumed the following: risk free interest rate of 2.60%; expected volatility of 42%; expected dividend yield of 8.5%; and expected service period of 4 years. There were 60,866 of the 2010 performance awards earned in 2010; with the remaining 121,733 earned in 2012. Because these awards were earned and vested quicker than we had expected, we were required to record an additional $0.4 million of stock compensation expense in the 2012 fourth quarter.

2007 performance awards - The 2007 performance awards were granted under our 2007 Multi-year Incentive Plan and consist of two components: core performance awards (“CPRE”) and superior performance awards (“SPRE”). The CPRE awards vest annually and ratably over a seven-year period beginning December 31, 2007, contingent upon our achievement of a simple 9% annual total return to shareholders (prorated to 7.5% for the first vesting period ending December 31, 2007). In years in which the annual total return exceeds 9%, the excess return may be used to earn CPRE awards not earned in a prior or future year. SPRE awards were to be earned based on achievement of specified share price thresholds during the period beginning March 1, 2007 through December 31, 2010, and were to vest annually and ratably over the subsequent three-year period (2011-2013). At December 31, 2010, the share price thresholds were not met. Accordingly, in accordance with the SPRE award agreements, 33.334% of the SPRE awards were earned as we performed at or above the 50th percentile of all real estate investment trusts included in the Morgan Stanley REIT Index in terms of total return to shareholders over the same period. The other 66.666% of the SPRE awards were deemed forfeited.

In 2012, 79,283 of the CPRE awards were earned, but none in 2011. At December 31, 2012, we have 317,143 of CPRE awards remaining to be earned.

The following summarizes restricted equity awards activity in 2012 and 2011, respectively:

For the Year Ended December 31, 2012:


	Vesting Based on Service					Vesting Based on Market/Performance Conditions
	Shares			Weighted Average Value at Award Date		Shares			Weighted Average Value at Award Date
Nonvested awards at beginning of the year		603,980		$	11.02		1,511,397		$	7.21
Awarded		275,464		$	10.14		902,359		$	5.16
Vested		(410,261	)	$	10.78		(513,693	)	$	8.62
Forfeited		(2,300	)	$	10.24		(20,174	)	$	4.59

Nonvested awards at end of year		466,883		$	10.72		1,879,889		$	5.87

For the Year Ended December 31, 2011:


	Vesting Based on Service					Vesting Based on Market/Performance Conditions
	Shares			Weighted Average Value at Award Date		Shares			Weighted Average Value at Award Date
Nonvested awards at beginning of the year		783,305		$	10.43		828,409		$	8.70
Awarded		292,803		$	10.76		853,656		$	5.72
Vested		(453,980	)	$	9.89		(163,575	)	$	6.87
Forfeited		(18,148	)	$	9.70		(7,093	)	$	9.32

Nonvested awards at end of year		603,980		$	11.02		1,511,397		$	7.21

The value of stock-based awards is charged to compensation expense over the vesting periods. In the years ended December 31, 2012, 2011 and 2010, we recorded $7.6 million, $7.0 million, and $6.6 million respectively, of non-cash compensation expense. The remaining unrecognized cost from restricted equity awards at December 31, 2012, is $10.1 million and will be recognized over a weighted average period of 2.5 years. Restricted equity awards which vested in 2012, 2011, and 2010 had a value of $9.2 million, $6.1 million, and $6.1 million, respectively.

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Staff Accounting Bulletin (SAB)
-Number Topic 14

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 123R
-Paragraph 64, 65, A240
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Statement of Position (SOP)
-Number 93-6
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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Commitments and Contingencies

12 Months Ended

Dec. 31, 2012

Commitments and Contingencies

8.	Commitments and Contingencies

Commitments

Our operating leases primarily consist of ground leases on which certain of our facilities or other related property reside along with corporate office and equipment leases. These ground leases are long-term leases (almost all having terms for approximately 50 years or more), some contain escalation provisions and one contains a purchase option. Properties subject to these ground leases are subleased to our tenants. Lease and rental expense (which is recorded on the straight-line method) for 2012, 2011 and 2010, respectively, were $2,195,835, $1,994,565, and $989,170, which was offset by sublease rental income of $492,095, $443,829, and $520,090 for 2012, 2011, and 2010, respectively.

Fixed minimum payments due under operating leases with non-cancelable terms of more than one year at December 31, 2012 are as follows: (amounts in thousands)


2013	$	2,344
2014		2,119
2015		2,218
2016		2,233
2017		2,239
Thereafter		41,799

	$	52,952

The total amount to be received in the future from non-cancellable subleases at December 31, 2012, is $35.5 million.

Contingencies

We are a party to various legal proceedings incidental to our business. In the opinion of management, after consultation with legal counsel, the ultimate liability, if any, with respect to those proceedings is not presently expected to materially affect our financial position, results of operations or cash flows.

- Definition

The entire disclosure for commitments and contingencies.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 7: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Common Stock/Partner's Capital

12 Months Ended

Dec. 31, 2012

Common Stock/Partner's Capital

9.	Common Stock/Partner’s Capital

Medical Properties Trust, Inc.

To help fund the 2012 acquisitions disclosed in Note 3, on February 7, 2012, we completed an offering of 23,575,000 shares of our common stock (including 3,075,000 shares sold pursuant to the exercise in full of the underwriters’ overallotment option) at a price of $9.75 per share, resulting in net proceeds (after underwriting discount) of $220.1 million.

In April 2010, we completed a public offering of 26 million shares of common stock at $9.75 per share. Including the underwriters’ purchase of 3.9 million additional shares to cover over allotments, net proceeds from the offering, after underwriting discount and commissions, were $279.1 million. We used the net proceeds from the offering to fund debt refinancing activities and for general corporate purposes including funding acquisitions during 2010.

In November 2009, we put an at-the-market equity offering program in place, giving us the ability to sell up to $50 million of stock. During the first quarter of 2010, we sold 0.9 million shares of our common stock under our at-the-market equity offering program, at an average price of $10.77 per share, for total proceeds, net of a 2% sales commission, of $9.5 million. During the fourth quarter 2012, we sold 1.1 million shares of our common stock under our at-the-market equity offering program, at an average price of $11.84 per share resulting in total proceeds, net of a 2% commission, of $13.2 million.

In February 2012, we filed Articles of Amendment to our charter with the Maryland State Department of Assessments and Taxation increasing the number of authorized shares of common stock, par value $0.001 per share available for issuance from 150,000,000 to 250,000,000.

MPT Operating Partnership, L.P.

The Operating Partnership is made up of a general partner, Medical Properties Trust, LLC (“General Partner”) and limited partners, including the Company (which owns 100% of the General Partner) and three other partners. By virtue of its ownership of the General Partner, the Company has a 99.8% ownership interest in Operating Partnership via its ownership of all the common units. The remaining ownership interest is held by the two employees and one director via their ownership of LTIP units. These LTIP units were issued to the employees pursuant to the 2007 Multi-Year Incentive Plan, which is part of the Equity Incentive Plan discussed in Note 7 and once vested in accordance with their award agreement, may be converted to common units per the Second Amended and Restated Agreement of Limited Partnership of MPT Operating Partnership, L.P. (“Operating Partnership Agreement”).

In regards to distributions, the Operating Partnership shall distribute cash at such times and in such amounts as are determined by the General Partner in its sole and absolute discretion, to common unit holders who are common unit holders on the record date. However, per the Operating Partnership Agreement, the General Partner shall use its reasonable efforts to cause the Operating Partnership to distribute amounts sufficient to enable the Company to pay stockholder dividends that will allow the Company to (i) meet its distribution requirement for qualification as a REIT and (ii) avoid any federal income or excise tax liability imposed by the Internal Revenue Code, other than to the extent the Company elects to retain and pay income tax on its net capital gain. In accordance with the Operating Partnership Agreement, LTIP units are treated as common units for distribution purposes.

The Operating Partnership’s net income will generally be allocated first to the General Partner to the extent of any cumulative losses and then to the limited partners in accordance with their respective percentage interests in the common units issued by the Operating Partnership. Any losses of the Operating Partnership will generally be allocated first to the limited partners until their capital account is zero and then to the General Partner. In accordance with the Operating Partnership Agreement, LTIP units are treated as common units for purposes of income and loss allocations. Limited partners have the right to require the Operating Partnership to redeem part or all of their common units. It is at the Operating Partnership’s discretion to redeem such common units for cash based on the fair market value of an equivalent number of shares of the Company’s common stock at the time of redemption or, alternatively, redeem the common units for shares of the Company’s common stock on a one-for-one basis, subject to adjustment in the event of stock splits, stock dividends, or similar events. In order for LTIP units to be redeemed, they must first be converted to common units and then must wait two years from the issuance of the LTIP units to be redeemed.

For each share of common stock issued by Medical Properties Trust, Inc., the Operating Partnership issues a corresponding number of operating partnership units.

Fair Value of Financial Instruments

12 Months Ended

Dec. 31, 2012

Fair Value of Financial Instruments

10.

Fair Value of Financial Instruments

We have various assets and liabilities that are considered financial instruments. We estimate that the carrying value of cash and cash equivalents, and accounts payable and accrued expenses approximate their fair values. Included in our accounts payable and accrued expenses are our interest rate swaps, which are recorded at fair value based on Level 2 observable market assumptions using standardized derivative pricing models. We estimate the fair value of our interest and rent receivables in the table below using Level 2 inputs such as discounting the estimated future cash flows using the current rates at which similar receivables would be made to others with similar credit ratings and for the same remaining maturities. The fair value of our mortgage loans and working capital loans in the following table is generally estimated by using Level 2 and Level 3 inputs such as discounting the estimated future cash flows using the current rates which similar loans would be made to borrowers with similar credit ratings and for the same remaining maturities. We determine the fair value of our exchangeable notes and 2011 and 2012 Senior Unsecured Notes in the table below, using Level 2 inputs such as quotes from securities dealers and market makers. Finally, we estimate the fair value of our 2006 Senior Unsecured Notes, revolving credit facilities, and term loans in the table below using Level 2 inputs based on the present value of future payments, discounted at a rate which we consider appropriate for such debt.

Fair value estimates are made at a specific point in time, are subjective in nature, and involve uncertainties and matters of significant judgment. Settlement of such fair value amounts may not be possible and may not be a prudent management decision. The following table summarizes fair value estimates for our financial instruments (in thousands):


	December 31, 2012						December 31, 2011
Asset (Liability)	Book Value			Fair Value			Book Value			Fair Value
Interest and rent receivables	$	45,289		$	36,700		$	29,862			$22,866
Loans(1)		334,693			335,595			239,839			243,272
Debt, net		(1,025,160	)		(1,082,333	)		(689,849	)		(688,032	)

(1)	Excludes loans related to Ernest Transaction since they are recorded at fair value and discussed below.

Items Measured at Fair Value on a Recurring Basis

As discussed in Note 2, our equity interest in Ernest and related loans, which were acquired in 2012, are being measured at fair value on a recurring basis as we elected to account for these investments using the fair value option method. At December 31, 2012, these amounts were as follows (in thousands):


Asset (Liability)	Fair Value		Cost		Asset Type Classification
Mortgage loans	$	100,000	$	100,000	Mortgage loans
Acquisition loan		93,200		93,200	Other loans
Equity investments		3,300		3,300	Other assets

	$	196,500	$	196,500

Our mortgage loans with Ernest are recorded at fair value based on Level 3 inputs by discounting the estimated cash flows using the current rates which similar loans would be made to borrowers with similar credit ratings and the same remaining maturities. Our acquisition loan and equity investments are recorded at fair value based on Level 3 inputs, by using a discounted cash flow model, which requires significant estimates of our investee such as projected revenue and expenses and appropriate discount rates based on the risk profile of comparable companies. We classify these loans and equity investments as Level 3, as we use certain unobservable inputs to the valuation methodology that are significant to the fair value measurement, and the valuation requires management judgment due to the absence of quoted market prices. For these cash flow models, our observable inputs include capitalization rates and market interest rates, and our unobservable input includes our adjustment for a marketability discount on our equity investment of 40% at December 31, 2012.

Because the fair value of Ernest investments noted above approximate their original cost, we did not recognize any unrealized gains/losses during 2012.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Discontinued Operations

12 Months Ended

Dec. 31, 2012

Discontinued Operations

11.

Discontinued Operations

As more fully discussed in Note 3 under the heading “Disposals”, we sold five properties in 2012, two properties in 2011, and three properties in 2010. We have classified current and prior year activity related to these transactions, along with the related operating results of the facilities prior to these transactions taking place, as discontinued operations. In addition, we have reclassified the related real estate assets to Real Estate Held for Sale in all prior periods.

The following table presents the results of discontinued operations for the years ended December 31, 2012, 2011 and 2010 (in thousands except per share/unit amounts):


	For the Years Ended December 31,
	2012		2011		2010
Revenues	$	197	$	11,369	$	17,661
Gain on sale		16,369		5,431		10,566
Income from discontinued operations		14,684		12,195		19,983
Income from discontinued operations — diluted per share/unit	$	0.11	$	0.11	$	0.20

- Definition

The entire disclosure for the facts and circumstances leading to the completed or expected disposal, manner and timing of disposal, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the segment in which the disposal group was reported, and the classification (whether sold or classified as held for sale) and carrying value of the assets and liabilities comprising the disposal group. Includes all disposal groups, including those classified as components of the entity (discontinued operations).

+ References

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+ Details

Quarterly Financial Data (unaudited)

12 Months Ended

Dec. 31, 2012

Quarterly Financial Data (unaudited)

12.

Quarterly Financial Data (unaudited)

As disclosed in Note 11, we sold properties during 2012 resulting in the reclassification of those properties current and prior year results to discontinued operations. The quarterly data presented below reflects these reclassifications.

Medical Properties Trust, Inc.

The following is a summary of the unaudited quarterly financial information for the years ended December 31, 2012 and 2011: (amounts in thousands, except for per share data)


	For the Three Month Periods in 2012 Ended
	March 31		June 30		September 30		December 31
Revenues	$	41,267	$	49,408	$	53,315	$	57,407
Income from continuing operations		8,920		19,358		23,221		23,894
Income from discontinued operations		1,686		2		8,287		4,709
Net income		10,606		19,360		31,508		28,603
Net income attributable to MPT common stockholders		10,564		19,316		31,464		28,556
Net income attributable to MPT common stockholders per share — basic	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average shares outstanding — basic		124,906		134,715		134,781		134,923
Net income attributable to MPT common stockholders per share — diluted	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average shares outstanding — diluted		124,906		134,715		134,782		134,930


	For the Three Month Periods in 2011 Ended
	March 31		June 30		September 30			December 31
Revenues	$	32,009	$	34,776	$	34,282		$	34,417
Income (loss) from continuing operations		7,834		2,559		(2,170	)		6,296
Income from discontinued operations		2,990		123		2,638			6,444
Net income		10,824		2,682		468			12,740
Net income attributable to MPT common stockholders		10,780		2,640		424			12,692
Net income attributable to MPT common stockholders per share — basic	$	0.09	$	0.02	$	—		$	0.11
Weighted average shares outstanding — basic		110,400		110,589		110,714			110,788
Net income attributable to MPT common stockholders per share — diluted	$	0.09	$	0.02	$	—		$	0.11
Weighted average shares outstanding — diluted		110,408		110,600		110,719			110,788

MPT Operating Partnership, L.P.

The following is a summary of the unaudited quarterly financial information for the years ended December 31, 2012 and 2011: (amounts in thousands, except for per unit data)


	For the Three Month Periods in 2012 Ended
	March 31		June 30		September 30		December 31
Revenues	$	41,267	$	49,408	$	53,315	$	57,407
Income from continuing operations		8,920		19,358		23,221		23,894
Income from discontinued operations		1,686		2		8,287		4,709
Net income		10,606		19,360		31,508		28,603
Net income attributable to MPT Operating Partnership partners		10,564		19,316		31,464		28,556
Net income attributable to MPT Operating Partnership partners per unit — basic	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average units outstanding — basic		124,906		134,715		134,781		134,923
Net income attributable to MPT Operating Partnership partners per unit — diluted	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average units outstanding — diluted		124,906		134,715		134,782		134,930


	For the Three Month Periods in 2011 Ended
	March 31		June 30		September 30			December 31
Revenues	$	32,009	$	34,776	$	34,282		$	34,417
Income (loss) from continuing operations		7,851		2,586		(2,152	)		6,251
Income from discontinued operations		2,990		123		2,638			6,444
Net income		10,841		2,709		486			12,695
Net income attributable to MPT Operating Partnership partners		10,796		2,667		443			12,647
Net income attributable to MPT Operating Partnership partners per unit — basic	$	0.09	$	0.02	$	—		$	0.11
Weighted average units outstanding — basic		110,400		110,589		110,714			110,788
Net income attributable to MPT Operating Partnership partners per unit — diluted	$	0.09	$	0.02	$	—		$	0.11
Weighted average units outstanding — diluted		110,408		110,600		110,719			110,788

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

+ References + Details

Condensed Consolidating Financial Information

12 Months Ended

Dec. 31, 2012

Condensed Consolidating Financial Information

13.

Condensed Consolidating Financial Information

The following tables present the condensed consolidating financial information for (a) Medical Properties Trust, Inc. (“Parent” and a guarantor to our 2011 and 2012 Senior Unsecured Notes), (b) MPT Operating Partnership, L.P. and MPT Finance Corporation (“Subsidiary Issuer”), (c) on a combined basis, the guarantors of our 2011 and 2012 Senior Unsecured Notes (“Subsidiary Guarantors”), and (d) on a combined basis, the non-guarantor subsidiaries (“Non-Guarantor Subsidiaries”). Separate financial statements of the Subsidiary Guarantors are not presented because the guarantee by each 100% owned Subsidiary Guarantor is joint and several and we believe separate financial statements and other disclosures regarding the Subsidiary Guarantors are not material to investors. Furthermore, there are no significant legal restrictions on the Parent’s ability to obtain funds from its subsidiaries by dividend or loan.

The guarantees by the Subsidiary Guarantors may be released and discharged upon: (1) any sale, exchange or transfer of all of the capital stock of a Subsidiary Guarantor; (2) the merger or consolidation of a Subsidiary Guarantor with a Subsidiary Issuer or any other Subsidiary Guarantor; (3) the proper designation of any Subsidiary Guarantor by the Subsidiary Issuers as “unrestricted” for covenant purposes under the indenture governing the 2011 and 2012 Senior Unsecured Notes; (4) the legal defeasance or covenant defeasance or satisfaction and discharge of the indenture; (5) a liquidation or dissolution of a Subsidiary Guarantor permitted under the indenture governing the 2011 and 2012 Senior Unsecured Notes; or (6) the release or discharge of the Subsidiary Guarantor from its guarantee obligations under our revolving credit facility.

Subsequent to December 31, 2011, certain of our subsidiaries were re-designated as guarantors of our 2011 and 2012 Senior Unsecured Notes (such subsidiaries were non-guarantors in 2011), while other subsidiaries have been re-designated as non-guarantors as the underlying properties were sold in 2012 (such subsidiaries were guarantors during 2011). With these re-designations, we have restated the 2011 and 2010 consolidating financial information below to reflect these changes.

Condensed Consolidated Balance Sheets

December 31, 2012

(in thousands)


	Parent		Subsidiary Issuers		Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Assets
Real estate assets
Land, buildings and improvements and intangible lease assets	$	—	$	28	$	1,214,740		$	65,947		$	—		$	1,280,715
Net investment in direct financing leases		—		—		110,155			204,257						314,412
Mortgage loans		—		—		268,650			100,000			—			368,650

Gross investment in real estate assets		—		28		1,593,545			370,204			—			1,963,777
Accumulated depreciation and amortization		—		—		(120,282	)		(6,452	)		—			(126,734	)

Net investment in real estate assets		—		28		1,473,263			363,752			—			1,837,043
Cash and cash equivalents		—		35,483		1,565			263			—			37,311
Interest and rent receivables		—		212		29,315			15,762			—			45,289
Straight-line rent receivables		—		—		29,314			6,546			—			35,860
Other loans		—		177		—			159,066			—			159,243
Net intercompany receivable (payable)		27,393		1,373,941		(1,010,400	)		(390,934	)		—			—
Investment in subsidiaries		1,050,204		647,029		42,666			—			(1,739,899	)		—
Other assets		—		31,097		1,522			31,521			—			64,140

Total Assets	$	1,077,597	$	2,087,967	$	567,245		$	185,976		$	(1,739,899	)	$	2,178,886

Liabilities and Equity
Liabilities
Debt, net	$	—	$	1,010,962	$	—		$	14,198		$	—		$	1,025,160
Accounts payable and accrued expenses		27,783		26,658		10,492			1,028			—			65,961
Deferred revenue		—		143		19,643			823			—			20,609
Lease deposits and other obligations to tenants		—		—		16,607			735			—			17,342

Total liabilities		27,783		1,037,763		46,742			16,784			—			1,129,072

Total Equity		1,049,814		1,050,204		520,503			169,192			(1,739,899	)		1,049,814

Total Liabilities and Equity	$	1,077,597	$	2,087,967	$	567,245		$	185,976		$	(1,739,899	)	$	2,178,886

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2012

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	115,770	$	16,619		$	(9,309	)	$	123,080
Straight-line rent		—			—			6,500		1,482			—			7,982
Income from direct financing leases		—			—			19,870		18,090			(16,232	)		21,728
Interest and fee income		—			18,341			29,610		25,387			(24,731	)		48,607

Total revenues		—			18,341			171,750		61,578			(50,272	)		201,397
Expenses
Real estate depreciation and amortization		—			—			31,845		1,700			—			33,545
Property-related		—			495			834		25,707			(25,541	)		1,495
Acquisition expenses		—			5,420			—		—			—			5,420
General and administrative		—			26,018			—		2,564			—			28,582

Total operating expenses		—			31,933			32,679		29,971			(25,541	)		69,042

Operating income		—			(13,592	)		139,071		31,607			(24,731	)		132,355
Other income (expense)
Interest and other (expense) income		—			(69	)		—		(1,593	)		—			(1,662	)
Earnings from equity and other interests		—			—			1,061		1,882			—			2,943
Interest expense		—			(58,729	)		1,408		(25,653	)		24,731			(58,243	)

Net other expense		—			(58,798	)		2,469		(25,364	)		24,731			(56,962	)

Income (loss) from continuing operations		—			(72,390	)		141,540		6,243			—			75,393
Income (loss) from discontinued operations		—			—			102		14,582			—			14,684

Equity in earnings of consolidated subsidiaries net of income taxes		90,077			162,467			4,481		—			(257,025	)		—

Net income (loss)		90,077			90,077			146,123		20,825			(257,025	)		90,077
Net income (loss) attributable to non-controlling interests		(177	)		(177	)		—		—			177			(177	)

Net income attributable to MPT common stockholders	$	89,900		$	89,900		$	146,123	$	20,825		$	(256,848	)	$	89,900

Condensed Consolidated Statements of Comprehensive Income (Loss)

For the Year Ended December 31, 2012

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net income	$	90,077		$	90,077		$	146,123	$	20,825	$	(257,025	)	$	90,077
Other comprehensive income:
Unrealized loss on interest rate swap		(251	)		(251	)		—		—		251			(251	)

Total comprehensive income		89,826			89,826			146,123		20,825		(256,774	)		89,826
Comprehensive income attributable to non-controlling interests		(177	)		(177	)		—		—		177			(177	)

Comprehensive income attributable to MPT common stockholders	$	89,649		$	89,649		$	146,123	$	20,825	($	256,597	)	$	89,649

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2012

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	57		$	(61,002	)	$	168,650		$	(2,396	)	$	—		$	105,309
Investing Activities
Cash paid for acquisitions and other related investments		—			—			(420,500	)		(200,990	)		—			(621,490	)
Net proceeds from sales of real estate		—			—			—			71,202			—			71,202
Principal received on loans receivable		—			—			5,491			5,440			—			10,931
Investments in and advances to subsidiaries		(129,421	)		(501,839	)		362,494			139,402			129,364			—
Investments in loans receivable		—			—			—			(1,293	)		—			(1,293	)
Construction in progress and other		—			(578	)		(66,467	)		(9,433	)		—			(76,478	)

Net cash provided by (used in) investing activities		(129,421	)		(502,417	)		(118,982	)		4,328			129,364			(617,128	)

Financing Activities
Additions to term debt		—			300,000			—			—			—			300,000
Payments of term debt		—			—			—			(232	)		—			(232	)
Revolving credit facilities, net		—			75,000			(39,600	)		—			—			35,400
Distributions paid		(103,684	)		(103,952	)		—			—			103,684			(103,952	)
Lease deposits and other obligations to tenants		—			—			(9,912	)		(1,524	)		—			(11,436	)
Proceeds from sale of common shares, net of offering costs		233,048			233,048			—			—			(233,048	)		233,048
Debt issuance costs paid and other financing activities		—			(6,424	)		—			—			—			(6,424	)

Net cash provided by (used in) financing activities		129,364			497,672			(49,512	)		(1,756	)		(129,364	)		446,404

Increase (decrease) in cash and cash equivalents for period		—			(65,747	)		156			176			—			(65,415	)
Cash and cash equivalents at beginning of period		—			101,230			1,409			87			—			102,726

Cash and cash equivalents at end of period	$	—		$	35,483		$	1,565		$	263		$	—		$	37,311

Condensed Consolidated Balance Sheets

December 31, 2011

(in thousands)


	Parent		Subsidiary Issuers		Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Assets
Real estate assets
Land, buildings and improvements and intangible lease assets	$	—	$	37	$	1,139,073		$	65,947		$	—		$	1,205,057
Real estate held for sale		—		—		4,240			55,553			—			59,793
Mortgage loans		—		—		165,000			—			—			165,000

Gross investment in real estate assets		—		37		1,308,313			121,500			—			1,429,850
Accumulated depreciation and amortization		—		—		(88,438	)		(4,750	)		—			(93,188	)

Net investment in real estate assets		—		37		1,219,875			116,750			—			1,336,662
Cash and cash equivalents		—		101,230		1,409			87			—			102,726
Interest and rent receivables		—		399		22,528			6,935			—			29,862
Straight-line rent receivables		—		—		22,813			11,180			—			33,993
Other loans		—		178		5,491			69,170			—			74,839
Net intercompany receivable (payable)		21,955		872,380		(847,921	)		(46,414	)		—			—
Investment in subsidiaries		829,205		489,858		43,008			—			(1,362,071	)		—
Other assets		—		27,285		2,151			14,356			—			43,792

Total Assets	$	851,160	$	1,491,367	$	469,354		$	172,064		$	(1,362,071	)	$	1,621,874

Liabilities and Equity
Liabilities
Debt, net	$	—	$	635,820	$	39,600		$	14,429		$	—		$	689,849
Accounts payable and accrued expenses		22,345		25,783		2,578			419			—			51,125
Deferred revenue		—		559		21,100			1,648			—			23,307
Lease deposits and other obligations to tenants		—		—		26,400			2,378			—			28,778

Total liabilities		22,345		662,162		89,678			18,874			—			793,059

Total Equity		828,815		829,205		379,676			153,190			(1,362,071	)		828,815

Total Liabilities and Equity	$	851,160	$	1,491,367	$	469,354		$	172,064		$	(1,362,071	)	$	1,621,874

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	102,541		$	9,286		$	(3,092	)	$	108,735
Straight-line rent		—			—			3,617			1,762			—			5,379
Interest and fee income		—			6,124			17,556			3,926			(6,236	)		21,370

Total revenues		—			6,124			123,714			14,974			(9,328	)		135,484
Expenses
Real estate depreciation and amortization		—			—			29,238			1,658			—			30,896
Property-related		—			217			472			3,141			(3,092	)		738
Acquisition expenses		—			3,713			—			471			—			4,184
General and administrative		17			23,914			—			3,288			—			27,219

Total operating expenses		17			27,844			29,710			8,558			(3,092	)		63,037

Operating income		(17	)		(21,720	)		94,004			6,416			(6,236	)		72,447
Other income (expense)
Interest and other (expense) income		—			26			2			(10	)		—			18
Earnings from equity and other interests		—			—			345			(267	)		—			78
Debt refinancing costs		—			(14,109	)		(105	)		—			—			(14,214	)
Interest expense		—			(43,063	)		139			(7,122	)		6,236			(43,810	)

Net other expense		—			(57,146	)		381			(7,399	)		6,236			(57,928	)

Income (loss) from continuing operations		(17	)		(78,866	)		94,385			(983	)		—			14,519
Income (loss) from discontinued operations		—			—			(1,970	)		14,165			—			12,195

Equity in earnings of consolidated subsidiaries net of income taxes		26,731			105,597			4,578			—			(136,906	)		—

Net income		26,714			26,731			96,993			13,182			(136,906	)		26,714
Net income attributable to non-controlling interests		(178	)		(178	)		—			—			178			(178	)

Net income attributable to MPT common stockholders	$	26,536		$	26,553		$	96,993		$	13,182		$	(136,728	)	$	26,536

Condensed Consolidated Statements of Comprehensive Income (Loss)

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net income	$	26,714		$	26,731		$	96,993	$	13,182	$	(136,906	)	$	26,714
Other comprehensive income:
Unrealized loss on interest rate swap		(8,590	)		(8,590	)		—		—		8,590			(8,590	)

Total comprehensive income		18,124			18,141			96,993		13,182		(128,316	)		18,124
Comprehensive income attributable to non-controlling interests		(178	)		(178	)		—		—		178			(178	)

Comprehensive income attributable to MPT common stockholders	$	17,946		$	17,963		$	96,993	$	13,182	$	(128,138	)	$	17,946

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(209	)	$	(48,779	)	$	81,173		$	47,085		$	—		$	79,270

Investing Activities
Cash paid for acquisitions and other related investments		—			—			(241,626	)		(37,337	)		—			(278,963	)
Net proceeds from sales of real estate		—			—			—			41,130			—			41,130
Principal received on loans receivable		—			—			230			4,059			—			4,289
Investments in and advances to subsidiaries		89,551			(92,052	)		142,448			(50,605	)		(89,342	)		—
Investments in loans receivable		—			—			(230	)		(631	)		—			(861	)
Construction in progress and other		—			(6,466	)		(24,081	)		(669	)		—			(31,216	)

Net cash provided by (used in) investing activities		89,551			(98,518	)		(123,259	)		(44,053	)		(89,342	)		(265,621	)

Financing Activities
Additions to term debt		—			450,000			—			—			—			450,000
Payments of term debt		—			(237,666	)		(8,433	)		(163	)		—			(246,262	)
Revolving credit facilities, net		—			50,000			39,600			—			—			89,600
Distributions paid		(89,342	)		(89,601	)		—			—			89,342			(89,601	)
Lease deposits and other obligations to tenants		—			—			10,941			(2,320	)		—			8,621
Debt issuance costs paid and other financing activities		—			(21,028	)		—			(661	)		—			(21,689	)

Net cash provided by (used in) financing activities		(89,342	)		151,705			42,108			(3,144	)		89,342			190,669

Increase (decrease) in cash and cash equivalents for period		—			4,408			22			(112	)		—			4,318
Cash and cash equivalents at beginning of period		—			96,822			1,387			199			—			98,408

Cash and cash equivalents at end of period	$	—		$	101,230		$	1,409		$	87		$	—		$	102,726

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	74,281		$	7,019		$	(1,030	)	$	80,270
Straight-line rent		—			—			131			1,034			—			1,165
Interest and fee income		—			6,964			17,225			9,914			(7,514	)		26,589

Total revenues		—			6,964			91,637			17,967			(8,544	)		108,024
Expenses
Real estate depreciation and amortization		—			—			19,282			1,615			—			20,897
Impairment charge		—			—			—			12,000			—			12,000
Property-related		—			(4	)		4,375			1,040			(1,030	)		4,381
Acquisition expenses		—			2,026			—			—			—			2,026
General and administrative		75			25,841			—			593			—			26,509

Total operating expenses		75			27,863			23,657			15,248			(1,030	)		65,813

Operating income		(75	)		(20,899	)		67,980			2,719			(7,514	)		42,211
Other income (expense)
Interest and other (expense) income		—			(14	)		3			1,484			—			1,473
Earnings from equity and other interests		—			—			—			45			—			45
Debt refinancing costs		—			(6,716	)		—			—			—			(6,716	)
Interest expense		—			(33,623	)		(358	)		(7,517	)		7,514			(33,984	)

Net other income (expense)		—			(40,353	)		(355	)		(5,988	)		7,514			(39,182	)

Income (loss) from continuing operations		(75	)		(61,252	)		67,625			(3,269	)		—			3,029
Income (loss) from discontinued operations		—			—			896			19,087			—			19,983

Equity in earnings of consolidated subsidiaries net of income taxes		23,087			84,339			4,273			—			(111,699	)		—

Net income		23,012			23,087			72,794			15,818			(111,699	)		23,012
Net income attributable to non-controlling interests		(99	)		(99	)		—			—			99			(99	)

Net income attributable to MPT common stockholders	$	22,913		$	22,988		$	72,794		$	15,818		$	(111,600	)	$	22,913

Condensed Consolidated Statements of Comprehensive Income (Loss)

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net income	$	23,012		$	23,087		$	72,794	$	15,818	$	(111,699	)	$	23,012
Other comprehensive income:
Unrealized loss on interest rate swap		(3,641	)		(3,641	)		—		—		3,641			(3,641	)

Total comprehensive income		19,371			19,446			72,794		15,818		(108,058	)		19,371
Comprehensive income attributable to non-controlling interests		(99	)		(99	)		—		—		99			(99	)

Comprehensive income attributable to MPT common stockholders	$	19,272		$	19,347		$	72,794	$	15,818	$	(107,959	)	$	19,272

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(29	)	$	(54,908	)	$	92,121		$	23,453		$	—		$	60,637
Investing Activities
Cash paid for acquisitions and other related investments		—			—			(137,808	)		—			—			(137,808	)
Net proceeds from sales of real estate		—			—			2,669			95,000			—			97,669
Principal received on loans receivable		—			—			—			90,486			—			90,486
Investments in and advances to subsidiaries		(211,181	)		99,564			94,218			(193,811	)		211,210			—
Investments in loans receivable and other investments		—			—			(5,000	)		(6,637	)		—			(11,637	)
Construction in progress and other		—			(108	)		(7,281	)		(8,540	)		—			(15,929	)

Net cash provided by (used in) investing activities		(211,181	)		99,456			(53,202	)		(23,502	)		211,210			22,781
Financing Activities
Additions to term debt		—			148,500			—			—			—			148,500
Payments of term debt		—			(216,520	)		(245	)		—			—			(216,765	)
Revolving credit facilities, net		—			(96,000	)		(41,200	)		—			—			(137,200	)
Distributions paid		(76,856	)		(77,087	)		—			—			76,856			(77,087	)
Lease deposits and other obligations to tenants		—			—			3,459			208			—			3,667
Proceeds from sale of common shares/units, net of offering costs		288,066			288,066			—			—			(288,066	)		288,066
Debt issuance costs paid and other financing activities		—			(9,498	)		—			—			—			(9,498	)

Net cash provided by (used in) financing activities		211,210			37,461			(37,986	)		208			(211,210	)		(317	)

Increase in cash and cash equivalents for period		—			82,009			933			159			—			83,101
Cash and cash equivalents at beginning of period		—			14,813			454			40			—			15,307

Cash and cash equivalents at end of period	$	—		$	96,822		$	1,387		$	199		$	—		$	98,408

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

+ References + Details

Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2012

Valuation and Qualifying Accounts

Medical Properties Trust, Inc. and MPT Operating Partnership, L.P.

Schedule II: Valuation and Qualifying Accounts

December 31, 2012


	Balance at Beginning of Year(1)		Additions			Deduction,			Balance at End of Year(1)
Year Ended December 31,	Balance at Beginning of Year(1)		Charged Against Operations(1)			Net Recoveries/ Writeoffs(1)			Balance at End of Year(1)
	(In thousands)
2012	$	32,618	$	4,540	(3)	$	(2,389	)	$	34,769

2011	$	23,926	$	8,692	(3)	$	(—	)	$	32,618

2010	$	4,339	$	22,245	(2)	$	(2,658	)	$	23,926

(1)	Includes allowance for doubtful accounts, straight-line rent reserves, allowance for loan losses, tax valuation allowances and other reserves.

(2)	Includes $12 million loan loss reserve related to our Monroe property and a $6.5 million increase in valuation allowances to fully reserve for the net deferred tax asset of one of our taxable REIT subsidiaries.

(3)	Includes $3.7 million and $2.9 million in rent and interest reserves, respectively, related to our Denham Springs and Monroe properties and $2.1 million to fully reserve for the net deferred tax asset of one of our taxable REIT subsidiaries.

(4)	Includes $1.6 million and $2.9 million in rent and interest reserves, respectively, related to our Monroe properties.

REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

12 Months Ended

Dec. 31, 2012

REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

SCHEDULE III — REAL ESTATE INVESTMENTS AND ACCUMULATED DEPRECIATION

December 31, 2012


Location	Type of Property	Initial Costs				Additions Subsequent to Acquisition					Cost at December 31, 2012(3)						Accumu- lated Depreci- ation		Date of Constr- uction		Date Acquired		Life on which depreci- ation in latest income state- ments is computed (Years)
Location	Type of Property	Land		Buildings		Improve- ments		Carrying Costs			Land		Buildings		Total		Accumu- lated Depreci- ation		Date of Constr- uction		Date Acquired
	(Amounts in thousands)
Covington, LA	Long term acute care hospital	$	821	$	10,238		—	$	14		$	821	$	10,252	$	11,073	$	1,944		1984		June 9, 2005		40
Redding, CA	Long term acute care hospital		—		19,952		—		4,361			1,629		22,684		24,313		4,054		1991		June 30, 2005		40
Bloomington, IN	Acute care general hospital		2,457		31,209		—		408			2,576		31,498		34,074		5,012		2006		August 8, 2006		40
Dallas, TX	Long term acute care hospital		1,000		13,589		—		368			1,421		13,536		14,957		2,143		2006		September 5, 2006		40
La Palma, CA	Acute care general hospital		937		10,907		—		3			937		10,910		11,847		1,682		1971		November 8, 2006		40
Anaheim, CA	Acute care general hospital		1,875		21,814		—		10			1,875		21,824		23,699		3,364		1964		November 8, 2006		40
Luling, TX	Long term acute care hospital		811		9,345		—		—			811		9,345		10,156		1,421		2002		December 1, 2006		40
San Antonio, TX	Rehabilitaion hospital		—		10,198		—		—			—		10,198		10,198		1,551		1987		December 1, 2006		40
Victoria, TX	Long term acute care hospital		625		7,197		—		—			625		7,197		7,822		1,095		1998		December 1, 2006		40
Houston, TX	Acute care general hospital		4,757		56,238		—		1,259			5,464		56,790		62,254		8,585		2006		December 1, 2006		40
Bensalem, PA	Acute care general hospital		6,911		38,185		—		(353	)		6,911		37,832		44,743		5,625		2006		March 19, 2007		40
Portland, OR	Long term acute care hospital		3,085		17,859		—		2,559			3,071		20,432		23,503		2,842		1964		April 18, 2007		40
San Diego, CA	Acute care general hospital		6,550		15,653		—		77			6,550		15,730		22,280		2,226		1964		May 9, 2007		40
Redding, CA	Acute care general hospital		1,555		53,863		—		13			1,555		53,876		55,431		7,306		1974		August 10, 2007		40
Houston, TX	Acute care general hospital		3,501		34,530		—		12,468			3,274		47,225		50,499		3,680		1960		August 10, 2007		40
Bennettsville, SC	Acute care general hospital		794		15,772		—		—			794		15,772		16,566		1,873		1984		April 1, 2008		40
Bossier City, LA	Long term acute care hospital		900		17,818		—		—			900		17,818		18,718		2,113		1982		April 1, 2008		40
Bristol, CT	Wellness Center		485		2,267		—		—			485		2,267		2,752		840		1975		April 22, 2008		10
Cheraw, SC	Acute care general hospital		657		19,576		—		—			657		19,576		20,233		2,324		1982		April 1, 2008		40
Detroit, MI	Long term acute care hospital		1,220		8,687		—		(365	)		1,220		8,322		9,542		1,037		1956		May 22, 2008		40
Enfield, CT	Wellness Center		384		2,257		—		—			384		2,257		2,641		837		1974		April 22, 2008		10
Fort Lauderdale, FL	Rehabilitaion hospital		3,499		21,939		—		1			3,499		21,940		25,439		2,565		1985		April 22, 2008		40
Garden Grove, CA	Acute care general hospital		5,502		10,748		—		51			5,502		10,799		16,301		1,115		1982		November 25, 2008		40
Garden Grove, CA	Medical Office Building		862		7,888		—		28			862		7,916		8,778		810		1982		November 25, 2008		40
Idaho Falls, ID	Acute care general hospital		1,822		37,467		—		4,665			1,822		42,132		43,954		4,856		2002		April 1, 2008		40
Newington, CT	Wellness Center		270		1,615		—		—			270		1,615		1,885		601		1979		April 22, 2008		10
Petersburg, VA	Rehabilitaion hospital		1,302		9,121		—		—			1,302		9,121		10,423		1,026		2006		July 1, 2008		40
West Valley City, UT	Acute care general hospital		5,516		58,314		—		—			5,516		58,314		63,830		6,817		1980		April 22, 2008		40
Poplar Bluff, MO	Acute care general hospital		2,659		38,694		—		1			2,660		38,694		41,354		4,523		1980		April 22, 2008		40
East Providence, RI	Wellness Center		209		1,265		—		—			209		1,265		1,474		471		1979		April 22, 2008		10
San Dimas, CA	Acute care general hospital		6,160		6,839		—		34			6,160		6,873		13,033		701		1972		November 25, 2008		40
San Dimas, CA	Medical Office Building		1,915		5,085		—		18			1,915		5,103		7,018		522		1979		November 25, 2008		40
West Springfield, MA	Wellness Center		583		3,185		—		—			583		3,185		3,768		1,186		1976		April 22, 2008		10
Tucson, AZ	Long term acute care hospital		920		6,078		—		—			920		6,078		6,998		722		1987		April 1, 2008		40
Warwick, RI	Wellness Center		1,265		759		—		—			1,265		759		2,024		282		1979		April 22, 2008		10
Webster, TX	Long term acute care hospital		988		10,432		—		1			988		10,433		11,421		1,239		1986		April 1, 2008		40
Wichita, KS	Rehabilitaion hospital		1,019		18,373		—		1			1,019		18,374		19,393		2,181		1992		April 4, 2008		40
Addison, TX	Rehabilitaion hospital		2,013		22,531		—		—			2,013		22,531		24,544		1,408		2008		June 17, 2010		40
Shenandoah, TX	Rehabilitaion hospital		2,033		21,943		—		—			2,033		21,943		23,976		1,371		2008		June 17, 2010		40
Richardson, TX	Rehabilitaion hospital		2,219		17,419		—		—			2,219		17,419		19,638		1,089		2008		June 17, 2010		40
Hill County, TX	Acute care general hospital		1,120		17,882		—		—			1,120		17,882		19,002		2,697		1980		September 17, 2010		40
Webster, TX	Long term acute care hospital		663		33,751		—		—			663		33,751		34,414		1,688		2004		December 21, 2010		40
Tomball, TX	Long term acute care hospital		1,298		23,982		—		—			1,298		23,982		25,280		1,199		2005		December 21, 2010		40
Gilbert, AZ	Acute care general hospital		150		15,553		—		—			150		15,553		15,703		778		2005		January 4, 2011		40
Corinth, TX	Long term acute care hospital		1,288		21,175		313		—			1,601		21,175		22,776		1,020		2008		January 31, 2011		40
Bayonne, NJ	Acute care general hospital		2,003		51,495		—		—			2,003		51,495		53,498		4,934		1918		February 4, 2011		20
San Diego, CA	Acute care general hospital		12,663		52,431		—		—			12,663		52,431		65,094		2,512		1973		February 9, 2011		40
Northland, MO	Long term acute care hospital		834		17,182		—		—			834		17,182		18,016		824		2007		February 14, 2011		40
DeSoto, TX	Long term acute care hospital		1,067		10,701		86		8			1,161		10,701		11,862		381		2008		July 18, 2011		40
New Braunfels, TX	Long term acute care hospital		1,100		7,883		—		—			1,100		7,883		8,983		246		2007		September 30, 2011		40
Hoboken, NJ	Acute care general hospital		1,387		44,351		—		—			1,387		44,351		45,738		2,507		1863		November 4, 2011		20
Florence, AZ	Acute care general hospital		900		28,636		—		—			900		28,636		29,536		524		2012		November 4, 2010		40
Hammond, LA	Long term acute care hospital		519		8,941		—		—			519		8,941		9,460		19		2003		December 14, 2012		40
San Antonio, TX	Acute care general hospital		2,248		5,390		—		—			2,248		5,390		7,638		31		2012		October 14, 2011		40

		$	107,321	$	1,056,202	$	399	$	25,630		$	110,364	$	1,079,188	$	1,189,552	$	114,399

The changes in total real estate assets including real estate held for sale but excluding construction in progress, intangible lease asset, investments in direct financing leases, and mortgage loans for the years ended:


	December 31, 2012			December 31, 2011			December 31, 2010
COST
Balance at beginning of period	$	1,191,096		$	990,635		$	934,601
Acquisitions		9,460			240,474			146,854
Transfers from construction in progress		37,174			—			—
Additions		19,971			1,011			1,709
Dispositions		(68,149	)		(40,460	)		(92,529	)
Other		—			(564	)		—

Balance at end of period	$	1,189,552		$	1,191,096	(1)	$	990,635	(1)

The changes in accumulated depreciation including real estate assets held for sale for the years ended:


	December 31, 2012			December 31, 2011 (1)			December 31, 2010
ACCUMULATED DEPRECIATION
Balance at beginning of period	$	93,430		$	68,662		$	51,638
Depreciation		31,026			29,523			22,664
Depreciation on disposed property		(10,057	)		(4,755	)		(5,640	)

Balance at end of period	$	114,399		$	93,430	(2)	$	68,662	(2)

(1)

Includes real estate cost included in real estate held for sale of $68,148 and $109,173 at December 31, 2011 and 2010, respectively. Excludes intangible lease assets that are included in real estate held for sale of $2,194 and $3,555 for 2011 and 2010, respectively.

(2)

Includes accumulated depreciation in real estate held for sale of $8,964 and $10,910 for 2011 and 2010, respectively. Excludes accumulated amortization related to intangible lease assets that are included in real estate held for sale of $1,585 and $1,941 for 2011 and 2010, respectively.

(3)

The aggregate cost for federal income tax purposes is $1,183,464.

- Definition

The entire disclosure for real estate and accumulated depreciation. This may include a schedule that describes the property and lists the initial cost of land, buildings and improvements, improvements and carrying costs capitalized after acquisition, and the total carrying cost for land, buildings and improvements for each property and in aggregate. The schedule also lists the accumulated depreciation for each property and in aggregate, the date each property was constructed and acquired, the useful life used to calculate depreciation and any encumbrances on the properties. The entity provides a reconciliation of the carrying amount of real estate from the beginning of the period to the end of the period. Any real estate investments that have been written down or reserved against are described, including the basis of the write-down. A material amount of intercompany profit in the total carrying amount of real estate is disclosed. The aggregate cost of all real estate investments for federal income tax purposes is also disclosed.

+ References + Details

MORTGAGE LOANS ON REAL ESTATE

12 Months Ended

Dec. 31, 2012

MORTGAGE LOANS ON REAL ESTATE

SCHEDULE IV — MORTGAGE LOANS ON REAL ESTATE

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


Column A	Column B			Column C		Column D	Column E			Column F		Column G(3)		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
Desert Valley Hospital		10.4	%		2022			(1	)	$	70,000	$	70,000		(2	)
Desert Valley Hospital		11.2	%		2022			(1	)		20,000		20,000		(2	)
Chino Valley Medical Center		10.4	%		2022			(1	)		50,000		50,000		(2	)
Paradise Valley Hospital		10.1	%		2022			(1	)		25,000		25,000		(2	)
Ernest Mortgage Loan(4)		9.0	%		2032			(1	)		100,000		100,000		(2	)
Centinela Hospital Medical Center		10.3	%		2022			(1	)		100,000		100,000		(2	)
Denham Springs LTACH		5.0	%		2013			(1	)		3,650		3,650		(2	)

										$	368,650	$	368,650

(1)	There were no prior liens on loans as of December 31, 2012.

(2)	The mortgage loan was not delinquent with respect to principal or interest.

(3)	The aggregate cost for Federal income tax purposes is $368,650.

(4)	Mortgage loans on four properties.

Changes in mortgage loans for the years ended December 31, 2012, 2011, and 2010 are summarized as follows:


	Year Ended December 31,
	2012		2011		2010
	(Dollar amounts in thousands)
Balance at beginning of year	$	165,000	$	165,000	$	200,164
Additions during year:
New mortgage loans and additional advances on existing loans		203,650		—		7,836

		368,650		165,000		208,000

Deductions during year:
Collection of principal		—		—		(43,000	)

		—		—		(43,000	)

Balance at end of year	$	368,650	$	165,000	$	165,000

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2012

Use of Estimates

Principles of Consolidation


VIE Type	Maximum Loss Exposure(1)		Asset Type Classification	Carrying Amount(2)
Loans, net		$272,454	Mortgage and other loans	$	228,831
Equity investments		$ 18,293	Other assets	$	5,341

(1)

(2)	Carrying amount reflects the net book value of our loan or equity interest only in the VIE.

See Note 3 for additional description of the nature, purpose and activities of our more significant VIEs and interests therein.

Investments in Unconsolidated Entities

Cash and Cash Equivalents

Revenue Recognition

Acquired Real Estate Purchase Price Allocation

Real Estate and Depreciation

Depreciation is calculated on the straight-line method over the weighted average useful lives of the related real estate and other assets, as follows:


Buildings and improvements			37.4 years
Tenant lease intangibles			15.7 years
Leasehold improvements			21.9 years
Furniture, equipment and other			9.5 years

Losses from Rent Receivables

Loans

Earnings Per Share/Units

Income Taxes

Given our income tax expense is typically not significant, we record such expense along with related penalties and interest, if any, in general administrative expenses.

Stock-Based Compensation

Deferred Costs

Derivative Financial Investments and Hedging Activities

Exchangeable Senior Notes

Fair Value Measurement

•

Level 1 — quoted prices for identical instruments in active markets;

•

Level 3 — fair value measurements derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

Recent Accounting Developments

Reclassifications

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2012

Carrying Value and Classification of Related Assets and Maximum Exposure to Loss

The carrying value and classification of the related assets and maximum exposure to loss as a result of our involvement with these VIEs are presented below at December 31, 2012 (in thousands):


VIE Type	Maximum Loss Exposure(1)		Asset Type Classification	Carrying Amount(2)
Loans, net		$272,454	Mortgage and other loans	$	228,831
Equity investments		$ 18,293	Other assets	$	5,341

(1)

(2)	Carrying amount reflects the net book value of our loan or equity interest only in the VIE.

Useful Lives of Related Real Estate and Other Assets

Depreciation is calculated on the straight-line method over the weighted average useful lives of the related real estate and other assets, as follows:


Buildings and improvements			37.4 years
Tenant lease intangibles			15.7 years
Leasehold improvements			21.9 years
Furniture, equipment and other			9.5 years

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 6
-URI http://asc.fasb.org/extlink&oid=7880789&loc=d3e5747-111685

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=7880789&loc=SL6228884-111685

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 4
-URI http://asc.fasb.org/extlink&oid=7880789&loc=d3e5728-111685

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Variable Interest Entity
-URI http://asc.fasb.org/extlink&oid=6528138

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7880789&loc=d3e5710-111685

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 810
-SubTopic 10
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=7880789&loc=SL6759159-111685

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 140
-Paragraph 35
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 2, 14, 15, 16, 23, 24, 25, 26
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 24
-Appendix D

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Staff Position (FSP)
-Number FAS140-4/FIN46(R)-8
-Paragraph C4
-Subparagraph d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 22B
-Appendix D

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 23A
-Appendix D

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 167
-Paragraph 22E
-Appendix D

Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name FASB Interpretation (FIN)
-Number 46R
-Paragraph 4
-Subparagraph g
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Real Estate and Loans Receivable (Tables)

12 Months Ended

Dec. 31, 2012

Assets Acquired

We acquired the following assets:


	2012		2011			2010
Assets Acquired		(in thousands)
Land	$	518	$	19,705		$	8,227
Building		8,942		220,769			119,626
Intangible lease assets — subject to amortization (weighted average useful life 15.0 years in 2012 and 13.9 years in 2011)		1,040		20,630			9,955
Net investments in direct financing leases		310,000		—			—
Mortgage loans		200,000		—			—
Other loans		95,690		27,283			—
Equity investments		5,300		5,168			—

Total assets acquired	$	621,490	$	293,555		$	137,808
Total liabilities assumed		—		(14,592	)		—

Net assets acquired	$	621,490	$	278,963		$	137,808

Unaudited Pro Forma Consolidated Financial Data

The following table sets forth certain unaudited pro forma consolidated financial data for 2012 and 2011, as if each acquisition was consummated on the same terms at the beginning of 2011 and 2010, respectively. Supplemental pro forma earnings were adjusted to exclude $5.1 million and $1.9 million of acquisition-related costs on these consummated deals incurred during 2012 and 2011, respectively (dollar amounts in thousands except per share/unit data).


	2012		2011
	(Amounts in thousands except per share/unit amounts)
Total revenues	$	224,796	$	213,642
Net income		113,450		81,744
Net income per share/unit	$	0.84	$	0.60

Amortization Expense from Lease Intangible Assets


For the Year Ended December 31:
2013	$	3,351
2014		3,286
2015		3,097
2016		3,055
2017		3,046

Components of Net Investment in Direct Financing Leases

The components of our net investment in DFLs consisted of the following (dollars in thousands):


	As of December 31, 2012
Minimum lease payments receivable	$	1,277,923
Estimated residual values		201,283
Less unearned income		(1,164,794	)

Net investment in direct financing leases	$	314,412

Minimum Rental Payments Due under Operating Leases with Non-Cancelable Terms


	Total Under Operating Leases		Total Under DFL		Total
2013	$	119,602	$	30,071	$	149,673
2014		118,150		30,672		148,822
2015		115,535		31,285		146,820
2016		115,976		31,911		147,887
2017		115,523		32,549		148,072
Thereafter		811,528		393,545		1,205,073

	$	1,396,314	$	550,033	$	1,946,347

Summary of Loans

The following is a summary of our loans ($ amounts in thousands):


	As of December 31, 2012					As of December 31, 2011
	Balance		Weighted Average Interest Rate			Balance		Weighted Average Interest Rate
Mortgage loans	$	368,650		10.0	%	$	165,000		10.2	%
Other loans		159,243		13.2	%		74,839		10.5	%

	$	527,893				$	239,839

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References + Details

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1486-128463

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=7659399&loc=d3e1392-128463

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 51
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph F4
-Subparagraph e
-Appendix F

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141
-Paragraph 52
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 141R
-Paragraph 68
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Debt (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Debt

The following is a summary of debt ($ amounts in thousands):


	As of December 31, 2012				As of December 31, 2011
	Balance			Interest Rate	Balance			Interest Rate
Revolving credit facilities	$	125,000		Variable	$	89,600		Variable
2006 Senior Unsecured Notes		125,000		Various		125,000		Various
2011 Senior Unsecured Notes		450,000		6.875%		450,000		6.875%
2012 Senior Unsecured Notes		200,000		6.375%		—
Exchangeable senior notes
Principal amount		11,000		9.250%		11,000		9.250%
Unamortized discount		(37	)			(180	)

		10,963				10,820

Term loans		114,197		Various		14,429		6.200%

	$	1,025,160			$	689,849

Principal Payments Due for Debt

As of December 31, 2012, principal payments due on our debt (which exclude the effects of any discounts recorded) are as follows:


2013	$	11,249
2014		265
2015		125,283
2016		225,299
2017		320
Thereafter		662,781

Total	$	1,025,197

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Per Share Distributions to Stockholders

A schedule of per share distributions we paid and reported to our stockholders is set forth in the following:


	For the Years Ended December 31,
	2012		2011		2010
Common share distribution	$	0.800000	$	0.800000	$	0.800000
Ordinary income		0.601216		0.300844		0.388128
Capital gains(1)		0.117584		0.031396		0.027724
Unrecaptured Sec. 1250 gain		0.086976		0.031396		0.022784
Return of capital		0.081200		0.467760		0.384148
Allocable to next year		—		—		—

(1)	Capital gains include unrecaptured Sec. 1250 gains.

Earnings Per Share/Unit (Tables)

12 Months Ended

Dec. 31, 2012

Medical Properties Trust, Inc.

Calculation of Earnings Per Share/Unit

Our earnings per share were calculated based on the following (amounts in thousands):


	For the Years Ended December 31,
	2012			2011			2010
Numerator:
Income from continuing operations	$	75,393		$	14,519		$	3,029
Non-controlling interests’ share in continuing operations		(177	)		(178	)		(99	)
Participating securities’ share in earnings		(886	)		(1,090	)		(1,254	)

Income from continuing operations, less participating securities’ share in earnings		74,330			13,251			1,676
Income from discontinued operations attributable to MPT common stockholders		14,684			12,195			19,983

Net income, less participating securities’ share in earnings	$	89,014		$	25,446		$	21,659

Denominator:
Basic weighted-average common shares		132,331			110,623			100,706
Dilutive stock options		2			6			2

Diluted weighted-average common shares		132,333			110,629			100,708

MPT Operating Partnership, L.P.

Calculation of Earnings Per Share/Unit

Our earnings per unit were calculated based on the following (amounts in thousands):


	For the Years Ended December 31,
	2012			2011			2010
Numerator:
Income from continuing operations	$	75,393		$	14,536		$	3,104
Non-controlling interests’ share in continuing operations		(177	)		(178	)		(99	)
Participating securities’ share in earnings		(886	)		(1,090	)		(1,254	)

Income from continuing operations, less participating securities’ share in earnings		74,330			13,268			1,751
Income from discontinued operations attributable to MPT Operating Partnership partners		14,684			12,195			19,983

Net income, less participating securities’ share in earnings	$	89,014		$	25,463		$	21,734

Denominator:
Basic weighted-average units		132,331			110,623			100,706
Dilutive options		2			6			2

Diluted weighted-average units		132,333			110,629			100,708

Stock Awards (Tables)

12 Months Ended

Dec. 31, 2012

Restricted Equity Awards Activity

The following summarizes restricted equity awards activity in 2012 and 2011, respectively:

For the Year Ended December 31, 2012:


	Vesting Based on Service					Vesting Based on Market/Performance Conditions
	Shares			Weighted Average Value at Award Date		Shares			Weighted Average Value at Award Date
Nonvested awards at beginning of the year		603,980		$	11.02		1,511,397		$	7.21
Awarded		275,464		$	10.14		902,359		$	5.16
Vested		(410,261	)	$	10.78		(513,693	)	$	8.62
Forfeited		(2,300	)	$	10.24		(20,174	)	$	4.59

Nonvested awards at end of year		466,883		$	10.72		1,879,889		$	5.87

For the Year Ended December 31, 2011:


	Vesting Based on Service					Vesting Based on Market/Performance Conditions
	Shares			Weighted Average Value at Award Date		Shares			Weighted Average Value at Award Date
Nonvested awards at beginning of the year		783,305		$	10.43		828,409		$	8.70
Awarded		292,803		$	10.76		853,656		$	5.72
Vested		(453,980	)	$	9.89		(163,575	)	$	6.87
Forfeited		(18,148	)	$	9.70		(7,093	)	$	9.32

Nonvested awards at end of year		603,980		$	11.02		1,511,397		$	7.21

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2012

Minimum Rental Payments Due under Operating Leases with Non-Cancelable Terms

Fixed minimum payments due under operating leases with non-cancelable terms of more than one year at December 31, 2012 are as follows: (amounts in thousands)


2013	$	2,344
2014		2,119
2015		2,218
2016		2,233
2017		2,239
Thereafter		41,799

	$	52,952

Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2012

Summary of Fair Value Information of Financial Instruments

The following table summarizes fair value estimates for our financial instruments (in thousands):


	December 31, 2012						December 31, 2011
Asset (Liability)	Book Value			Fair Value			Book Value			Fair Value
Interest and rent receivables	$	45,289		$	36,700		$	29,862			$22,866
Loans(1)		334,693			335,595			239,839			243,272
Debt, net		(1,025,160	)		(1,082,333	)		(689,849	)		(688,032	)

(1)	Excludes loans related to Ernest Transaction since they are recorded at fair value and discussed below.

Equity Interest in Ernest and Related Loans Measured at Fair Value on Recurring Basis

At December 31, 2012, these amounts were as follows (in thousands):


Asset (Liability)	Fair Value		Cost		Asset Type Classification
Mortgage loans	$	100,000	$	100,000	Mortgage loans
Acquisition loan		93,200		93,200	Other loans
Equity investments		3,300		3,300	Other assets

	$	196,500	$	196,500

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 45
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 10
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13433-108611

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 19
-Subparagraph a, b, c(1), d(1)
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 14
-Subparagraph a
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 15
-Subparagraph b-d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 159
-Paragraph 18
-Subparagraph c(2), d, e, f
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 157
-Paragraph 32
-Subparagraph a, c(1), c(2), c(3), d
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 107
-Paragraph 10
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2012

Discontinued Operations

The following table presents the results of discontinued operations for the years ended December 31, 2012, 2011 and 2010 (in thousands except per share/unit amounts):


	For the Years Ended December 31,
	2012		2011		2010
Revenues	$	197	$	11,369	$	17,661
Gain on sale		16,369		5,431		10,566
Income from discontinued operations		14,684		12,195		19,983
Income from discontinued operations — diluted per share/unit	$	0.11	$	0.11	$	0.20

- Definition

Tabular disclosure of disposal groups, which may include the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss), amounts of revenues and pretax profit or loss reported in discontinued operations, the classification and carrying value of the assets and liabilities comprising the disposal group, and the segment in which the disposal group was reported. Also may include the amount of adjustments to amounts previously reported in discontinued operations such as resolution of contingencies arising from the disposal transaction or the operations of the component prior to disposal.

+ References + Details

Quarterly Financial Data (unaudited) (Tables)

12 Months Ended

Dec. 31, 2012

Medical Properties Trust, Inc.

Unaudited Quarterly Financial Information

Medical Properties Trust, Inc.

The following is a summary of the unaudited quarterly financial information for the years ended December 31, 2012 and 2011: (amounts in thousands, except for per share data)


	For the Three Month Periods in 2012 Ended
	March 31		June 30		September 30		December 31
Revenues	$	41,267	$	49,408	$	53,315	$	57,407
Income from continuing operations		8,920		19,358		23,221		23,894
Income from discontinued operations		1,686		2		8,287		4,709
Net income		10,606		19,360		31,508		28,603
Net income attributable to MPT common stockholders		10,564		19,316		31,464		28,556
Net income attributable to MPT common stockholders per share — basic	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average shares outstanding — basic		124,906		134,715		134,781		134,923
Net income attributable to MPT common stockholders per share — diluted	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average shares outstanding — diluted		124,906		134,715		134,782		134,930


	For the Three Month Periods in 2011 Ended
	March 31		June 30		September 30			December 31
Revenues	$	32,009	$	34,776	$	34,282		$	34,417
Income (loss) from continuing operations		7,834		2,559		(2,170	)		6,296
Income from discontinued operations		2,990		123		2,638			6,444
Net income		10,824		2,682		468			12,740
Net income attributable to MPT common stockholders		10,780		2,640		424			12,692
Net income attributable to MPT common stockholders per share — basic	$	0.09	$	0.02	$	—		$	0.11
Weighted average shares outstanding — basic		110,400		110,589		110,714			110,788
Net income attributable to MPT common stockholders per share — diluted	$	0.09	$	0.02	$	—		$	0.11
Weighted average shares outstanding — diluted		110,408		110,600		110,719			110,788

MPT Operating Partnership, L.P.

Unaudited Quarterly Financial Information

MPT Operating Partnership, L.P.

The following is a summary of the unaudited quarterly financial information for the years ended December 31, 2012 and 2011: (amounts in thousands, except for per unit data)


	For the Three Month Periods in 2012 Ended
	March 31		June 30		September 30		December 31
Revenues	$	41,267	$	49,408	$	53,315	$	57,407
Income from continuing operations		8,920		19,358		23,221		23,894
Income from discontinued operations		1,686		2		8,287		4,709
Net income		10,606		19,360		31,508		28,603
Net income attributable to MPT Operating Partnership partners		10,564		19,316		31,464		28,556
Net income attributable to MPT Operating Partnership partners per unit — basic	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average units outstanding — basic		124,906		134,715		134,781		134,923
Net income attributable to MPT Operating Partnership partners per unit — diluted	$	0.08	$	0.14	$	0.23	$	0.21
Weighted average units outstanding — diluted		124,906		134,715		134,782		134,930


	For the Three Month Periods in 2011 Ended
	March 31		June 30		September 30			December 31
Revenues	$	32,009	$	34,776	$	34,282		$	34,417
Income (loss) from continuing operations		7,851		2,586		(2,152	)		6,251
Income from discontinued operations		2,990		123		2,638			6,444
Net income		10,841		2,709		486			12,695
Net income attributable to MPT Operating Partnership partners		10,796		2,667		443			12,647
Net income attributable to MPT Operating Partnership partners per unit — basic	$	0.09	$	0.02	$	—		$	0.11
Weighted average units outstanding — basic		110,400		110,589		110,714			110,788
Net income attributable to MPT Operating Partnership partners per unit — diluted	$	0.09	$	0.02	$	—		$	0.11
Weighted average units outstanding — diluted		110,408		110,600		110,719			110,788

Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2012

Condensed Consolidated Balance Sheets

Condensed Consolidated Balance Sheets

December 31, 2012

(in thousands)


	Parent		Subsidiary Issuers		Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Assets
Real estate assets
Land, buildings and improvements and intangible lease assets	$	—	$	28	$	1,214,740		$	65,947		$	—		$	1,280,715
Net investment in direct financing leases		—		—		110,155			204,257						314,412
Mortgage loans		—		—		268,650			100,000			—			368,650

Gross investment in real estate assets		—		28		1,593,545			370,204			—			1,963,777
Accumulated depreciation and amortization		—		—		(120,282	)		(6,452	)		—			(126,734	)

Net investment in real estate assets		—		28		1,473,263			363,752			—			1,837,043
Cash and cash equivalents		—		35,483		1,565			263			—			37,311
Interest and rent receivables		—		212		29,315			15,762			—			45,289
Straight-line rent receivables		—		—		29,314			6,546			—			35,860
Other loans		—		177		—			159,066			—			159,243
Net intercompany receivable (payable)		27,393		1,373,941		(1,010,400	)		(390,934	)		—			—
Investment in subsidiaries		1,050,204		647,029		42,666			—			(1,739,899	)		—
Other assets		—		31,097		1,522			31,521			—			64,140

Total Assets	$	1,077,597	$	2,087,967	$	567,245		$	185,976		$	(1,739,899	)	$	2,178,886

Liabilities and Equity
Liabilities
Debt, net	$	—	$	1,010,962	$	—		$	14,198		$	—		$	1,025,160
Accounts payable and accrued expenses		27,783		26,658		10,492			1,028			—			65,961
Deferred revenue		—		143		19,643			823			—			20,609
Lease deposits and other obligations to tenants		—		—		16,607			735			—			17,342

Total liabilities		27,783		1,037,763		46,742			16,784			—			1,129,072

Total Equity		1,049,814		1,050,204		520,503			169,192			(1,739,899	)		1,049,814

Total Liabilities and Equity	$	1,077,597	$	2,087,967	$	567,245		$	185,976		$	(1,739,899	)	$	2,178,886

Condensed Consolidated Balance Sheets

December 31, 2011

(in thousands)


	Parent		Subsidiary Issuers		Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Assets
Real estate assets
Land, buildings and improvements and intangible lease assets	$	—	$	37	$	1,139,073		$	65,947		$	—		$	1,205,057
Real estate held for sale		—		—		4,240			55,553			—			59,793
Mortgage loans		—		—		165,000			—			—			165,000

Gross investment in real estate assets		—		37		1,308,313			121,500			—			1,429,850
Accumulated depreciation and amortization		—		—		(88,438	)		(4,750	)		—			(93,188	)

Net investment in real estate assets		—		37		1,219,875			116,750			—			1,336,662
Cash and cash equivalents		—		101,230		1,409			87			—			102,726
Interest and rent receivables		—		399		22,528			6,935			—			29,862
Straight-line rent receivables		—		—		22,813			11,180			—			33,993
Other loans		—		178		5,491			69,170			—			74,839
Net intercompany receivable (payable)		21,955		872,380		(847,921	)		(46,414	)		—			—
Investment in subsidiaries		829,205		489,858		43,008			—			(1,362,071	)		—
Other assets		—		27,285		2,151			14,356			—			43,792

Total Assets	$	851,160	$	1,491,367	$	469,354		$	172,064		$	(1,362,071	)	$	1,621,874

Liabilities and Equity
Liabilities
Debt, net	$	—	$	635,820	$	39,600		$	14,429		$	—		$	689,849
Accounts payable and accrued expenses		22,345		25,783		2,578			419			—			51,125
Deferred revenue		—		559		21,100			1,648			—			23,307
Lease deposits and other obligations to tenants		—		—		26,400			2,378			—			28,778

Total liabilities		22,345		662,162		89,678			18,874			—			793,059

Total Equity		828,815		829,205		379,676			153,190			(1,362,071	)		828,815

Total Liabilities and Equity	$	851,160	$	1,491,367	$	469,354		$	172,064		$	(1,362,071	)	$	1,621,874

Condensed Consolidated Statements of Income

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2012

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	115,770	$	16,619		$	(9,309	)	$	123,080
Straight-line rent		—			—			6,500		1,482			—			7,982
Income from direct financing leases		—			—			19,870		18,090			(16,232	)		21,728
Interest and fee income		—			18,341			29,610		25,387			(24,731	)		48,607

Total revenues		—			18,341			171,750		61,578			(50,272	)		201,397
Expenses
Real estate depreciation and amortization		—			—			31,845		1,700			—			33,545
Property-related		—			495			834		25,707			(25,541	)		1,495
Acquisition expenses		—			5,420			—		—			—			5,420
General and administrative		—			26,018			—		2,564			—			28,582

Total operating expenses		—			31,933			32,679		29,971			(25,541	)		69,042

Operating income		—			(13,592	)		139,071		31,607			(24,731	)		132,355
Other income (expense)
Interest and other (expense) income		—			(69	)		—		(1,593	)		—			(1,662	)
Earnings from equity and other interests		—			—			1,061		1,882			—			2,943
Interest expense		—			(58,729	)		1,408		(25,653	)		24,731			(58,243	)

Net other expense		—			(58,798	)		2,469		(25,364	)		24,731			(56,962	)

Income (loss) from continuing operations		—			(72,390	)		141,540		6,243			—			75,393
Income (loss) from discontinued operations		—			—			102		14,582			—			14,684

Equity in earnings of consolidated subsidiaries net of income taxes		90,077			162,467			4,481		—			(257,025	)		—

Net income (loss)		90,077			90,077			146,123		20,825			(257,025	)		90,077
Net income (loss) attributable to non-controlling interests		(177	)		(177	)		—		—			177			(177	)

Net income attributable to MPT common stockholders	$	89,900		$	89,900		$	146,123	$	20,825		$	(256,848	)	$	89,900

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	102,541		$	9,286		$	(3,092	)	$	108,735
Straight-line rent		—			—			3,617			1,762			—			5,379
Interest and fee income		—			6,124			17,556			3,926			(6,236	)		21,370

Total revenues		—			6,124			123,714			14,974			(9,328	)		135,484
Expenses
Real estate depreciation and amortization		—			—			29,238			1,658			—			30,896
Property-related		—			217			472			3,141			(3,092	)		738
Acquisition expenses		—			3,713			—			471			—			4,184
General and administrative		17			23,914			—			3,288			—			27,219

Total operating expenses		17			27,844			29,710			8,558			(3,092	)		63,037

Operating income		(17	)		(21,720	)		94,004			6,416			(6,236	)		72,447
Other income (expense)
Interest and other (expense) income		—			26			2			(10	)		—			18
Earnings from equity and other interests		—			—			345			(267	)		—			78
Debt refinancing costs		—			(14,109	)		(105	)		—			—			(14,214	)
Interest expense		—			(43,063	)		139			(7,122	)		6,236			(43,810	)

Net other expense		—			(57,146	)		381			(7,399	)		6,236			(57,928	)

Income (loss) from continuing operations		(17	)		(78,866	)		94,385			(983	)		—			14,519
Income (loss) from discontinued operations		—			—			(1,970	)		14,165			—			12,195

Equity in earnings of consolidated subsidiaries net of income taxes		26,731			105,597			4,578			—			(136,906	)		—

Net income		26,714			26,731			96,993			13,182			(136,906	)		26,714
Net income attributable to non-controlling interests		(178	)		(178	)		—			—			178			(178	)

Net income attributable to MPT common stockholders	$	26,536		$	26,553		$	96,993		$	13,182		$	(136,728	)	$	26,536

Condensed Consolidated Statements of Income

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Revenues
Rent billed	$	—		$	—		$	74,281		$	7,019		$	(1,030	)	$	80,270
Straight-line rent		—			—			131			1,034			—			1,165
Interest and fee income		—			6,964			17,225			9,914			(7,514	)		26,589

Total revenues		—			6,964			91,637			17,967			(8,544	)		108,024
Expenses
Real estate depreciation and amortization		—			—			19,282			1,615			—			20,897
Impairment charge		—			—			—			12,000			—			12,000
Property-related		—			(4	)		4,375			1,040			(1,030	)		4,381
Acquisition expenses		—			2,026			—			—			—			2,026
General and administrative		75			25,841			—			593			—			26,509

Total operating expenses		75			27,863			23,657			15,248			(1,030	)		65,813

Operating income		(75	)		(20,899	)		67,980			2,719			(7,514	)		42,211
Other income (expense)
Interest and other (expense) income		—			(14	)		3			1,484			—			1,473
Earnings from equity and other interests		—			—			—			45			—			45
Debt refinancing costs		—			(6,716	)		—			—			—			(6,716	)
Interest expense		—			(33,623	)		(358	)		(7,517	)		7,514			(33,984	)

Net other income (expense)		—			(40,353	)		(355	)		(5,988	)		7,514			(39,182	)

Income (loss) from continuing operations		(75	)		(61,252	)		67,625			(3,269	)		—			3,029
Income (loss) from discontinued operations		—			—			896			19,087			—			19,983

Equity in earnings of consolidated subsidiaries net of income taxes		23,087			84,339			4,273			—			(111,699	)		—

Net income		23,012			23,087			72,794			15,818			(111,699	)		23,012
Net income attributable to non-controlling interests		(99	)		(99	)		—			—			99			(99	)

Net income attributable to MPT common stockholders	$	22,913		$	22,988		$	72,794		$	15,818		$	(111,600	)	$	22,913

Condensed Consolidated Statements of Comprehensive Income (Loss)

Condensed Consolidated Statements of Comprehensive Income (Loss)

For the Year Ended December 31, 2012

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net income	$	90,077		$	90,077		$	146,123	$	20,825	$	(257,025	)	$	90,077
Other comprehensive income:
Unrealized loss on interest rate swap		(251	)		(251	)		—		—		251			(251	)

Total comprehensive income		89,826			89,826			146,123		20,825		(256,774	)		89,826
Comprehensive income attributable to non-controlling interests		(177	)		(177	)		—		—		177			(177	)

Comprehensive income attributable to MPT common stockholders	$	89,649		$	89,649		$	146,123	$	20,825	($	256,597	)	$	89,649

Condensed Consolidated Statements of Comprehensive Income (Loss)

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net income	$	26,714		$	26,731		$	96,993	$	13,182	$	(136,906	)	$	26,714
Other comprehensive income:
Unrealized loss on interest rate swap		(8,590	)		(8,590	)		—		—		8,590			(8,590	)

Total comprehensive income		18,124			18,141			96,993		13,182		(128,316	)		18,124
Comprehensive income attributable to non-controlling interests		(178	)		(178	)		—		—		178			(178	)

Comprehensive income attributable to MPT common stockholders	$	17,946		$	17,963		$	96,993	$	13,182	$	(128,138	)	$	17,946

Condensed Consolidated Statements of Comprehensive Income (Loss)

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors		Non-Guarantor Subsidiaries		Eliminations			Total Consolidated
Net income	$	23,012		$	23,087		$	72,794	$	15,818	$	(111,699	)	$	23,012
Other comprehensive income:
Unrealized loss on interest rate swap		(3,641	)		(3,641	)		—		—		3,641			(3,641	)

Total comprehensive income		19,371			19,446			72,794		15,818		(108,058	)		19,371
Comprehensive income attributable to non-controlling interests		(99	)		(99	)		—		—		99			(99	)

Comprehensive income attributable to MPT common stockholders	$	19,272		$	19,347		$	72,794	$	15,818	$	(107,959	)	$	19,272

Condensed Consolidated Statements of Cash Flows

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2012

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	57		$	(61,002	)	$	168,650		$	(2,396	)	$	—		$	105,309
Investing Activities
Cash paid for acquisitions and other related investments		—			—			(420,500	)		(200,990	)		—			(621,490	)
Net proceeds from sales of real estate		—			—			—			71,202			—			71,202
Principal received on loans receivable		—			—			5,491			5,440			—			10,931
Investments in and advances to subsidiaries		(129,421	)		(501,839	)		362,494			139,402			129,364			—
Investments in loans receivable		—			—			—			(1,293	)		—			(1,293	)
Construction in progress and other		—			(578	)		(66,467	)		(9,433	)		—			(76,478	)

Net cash provided by (used in) investing activities		(129,421	)		(502,417	)		(118,982	)		4,328			129,364			(617,128	)

Financing Activities
Additions to term debt		—			300,000			—			—			—			300,000
Payments of term debt		—			—			—			(232	)		—			(232	)
Revolving credit facilities, net		—			75,000			(39,600	)		—			—			35,400
Distributions paid		(103,684	)		(103,952	)		—			—			103,684			(103,952	)
Lease deposits and other obligations to tenants		—			—			(9,912	)		(1,524	)		—			(11,436	)
Proceeds from sale of common shares, net of offering costs		233,048			233,048			—			—			(233,048	)		233,048
Debt issuance costs paid and other financing activities		—			(6,424	)		—			—			—			(6,424	)

Net cash provided by (used in) financing activities		129,364			497,672			(49,512	)		(1,756	)		(129,364	)		446,404

Increase (decrease) in cash and cash equivalents for period		—			(65,747	)		156			176			—			(65,415	)
Cash and cash equivalents at beginning of period		—			101,230			1,409			87			—			102,726

Cash and cash equivalents at end of period	$	—		$	35,483		$	1,565		$	263		$	—		$	37,311

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2011

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(209	)	$	(48,779	)	$	81,173		$	47,085		$	—		$	79,270

Investing Activities
Cash paid for acquisitions and other related investments		—			—			(241,626	)		(37,337	)		—			(278,963	)
Net proceeds from sales of real estate		—			—			—			41,130			—			41,130
Principal received on loans receivable		—			—			230			4,059			—			4,289
Investments in and advances to subsidiaries		89,551			(92,052	)		142,448			(50,605	)		(89,342	)		—
Investments in loans receivable		—			—			(230	)		(631	)		—			(861	)
Construction in progress and other		—			(6,466	)		(24,081	)		(669	)		—			(31,216	)

Net cash provided by (used in) investing activities		89,551			(98,518	)		(123,259	)		(44,053	)		(89,342	)		(265,621	)

Financing Activities
Additions to term debt		—			450,000			—			—			—			450,000
Payments of term debt		—			(237,666	)		(8,433	)		(163	)		—			(246,262	)
Revolving credit facilities, net		—			50,000			39,600			—			—			89,600
Distributions paid		(89,342	)		(89,601	)		—			—			89,342			(89,601	)
Lease deposits and other obligations to tenants		—			—			10,941			(2,320	)		—			8,621
Debt issuance costs paid and other financing activities		—			(21,028	)		—			(661	)		—			(21,689	)

Net cash provided by (used in) financing activities		(89,342	)		151,705			42,108			(3,144	)		89,342			190,669

Increase (decrease) in cash and cash equivalents for period		—			4,408			22			(112	)		—			4,318
Cash and cash equivalents at beginning of period		—			96,822			1,387			199			—			98,408

Cash and cash equivalents at end of period	$	—		$	101,230		$	1,409		$	87		$	—		$	102,726

Condensed Consolidated Statements of Cash Flows

For the Year Ended December 31, 2010

(in thousands)


	Parent			Subsidiary Issuers			Subsidiary Guarantors			Non-Guarantor Subsidiaries			Eliminations			Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	$	(29	)	$	(54,908	)	$	92,121		$	23,453		$	—		$	60,637
Investing Activities
Cash paid for acquisitions and other related investments		—			—			(137,808	)		—			—			(137,808	)
Net proceeds from sales of real estate		—			—			2,669			95,000			—			97,669
Principal received on loans receivable		—			—			—			90,486			—			90,486
Investments in and advances to subsidiaries		(211,181	)		99,564			94,218			(193,811	)		211,210			—
Investments in loans receivable and other investments		—			—			(5,000	)		(6,637	)		—			(11,637	)
Construction in progress and other		—			(108	)		(7,281	)		(8,540	)		—			(15,929	)

Net cash provided by (used in) investing activities		(211,181	)		99,456			(53,202	)		(23,502	)		211,210			22,781
Financing Activities
Additions to term debt		—			148,500			—			—			—			148,500
Payments of term debt		—			(216,520	)		(245	)		—			—			(216,765	)
Revolving credit facilities, net		—			(96,000	)		(41,200	)		—			—			(137,200	)
Distributions paid		(76,856	)		(77,087	)		—			—			76,856			(77,087	)
Lease deposits and other obligations to tenants		—			—			3,459			208			—			3,667
Proceeds from sale of common shares/units, net of offering costs		288,066			288,066			—			—			(288,066	)		288,066
Debt issuance costs paid and other financing activities		—			(9,498	)		—			—			—			(9,498	)

Net cash provided by (used in) financing activities		211,210			37,461			(37,986	)		208			(211,210	)		(317	)

Increase in cash and cash equivalents for period		—			82,009			933			159			—			83,101
Cash and cash equivalents at beginning of period		—			14,813			454			40			—			15,307

Cash and cash equivalents at end of period	$	—		$	96,822		$	1,387		$	199		$	—		$	98,408

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2012 yr mo
Summary Of Significant Accounting Policies [Line Items]
Equity method investment, ownership percentage	100.00%
Expected lease-up periods for estimating lost rentals, in months \| mo	6
Percentage of ordinary taxable income to be distributed for real estate investment trust qualification	90.00%
Number of years of federal income tax at corporate rates on failure to qualify as REIT \| yr	4
Maximum
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period in years, maximum	10 years
Time-Based Awards \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period in years, maximum	3 years
Time-Based Awards \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period in years, maximum	7 years
Market Conditions Based Awards \| Minimum
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period in years, maximum	3 years
Market Conditions Based Awards \| Maximum
Summary Of Significant Accounting Policies [Line Items]
Stock award vesting period in years, maximum	7 years

Carrying Value and Classification of Related Assets and Maximum Exposure to Loss as Result of Involvement with Variable Interest Entities (Detail)
$ in Thousands

Dec. 31, 2012

USD ($)

Loans, net

Variable Interest Entity [Line Items]

Maximum Loss Exposure

$ 272,454

^[1]

Equity Investments

Variable Interest Entity [Line Items]

Maximum Loss Exposure

18,293

^[1]

Ernest Mortgage Loan

Variable Interest Entity [Line Items]

Carrying Amount

228,831

^[2]

Other Assets

Variable Interest Entity [Line Items]

Carrying Amount

$ 5,341

^[2]

[1]

[2]

Carrying amount reflects the net book value of our loan or equity interest only in the VIE.

Useful Lives of Related Real Estates and Other Assets (Detail)	12 Months Ended
	Dec. 31, 2012
Building and Building Improvements
Property, Plant and Equipment [Line Items]
Weighted average useful lives of related real estate and other assets	37 years 4 months 24 days
Tenant Lease Intangibles
Property, Plant and Equipment [Line Items]
Weighted average useful lives of related real estate and other assets	15 years 8 months 12 days
Leasehold Improvements
Property, Plant and Equipment [Line Items]
Weighted average useful lives of related real estate and other assets	21 years 10 months 24 days
Furniture, Equipment And Other
Property, Plant and Equipment [Line Items]
Weighted average useful lives of related real estate and other assets	9 years 6 months

Assets Acquired (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	$ 621,490	$ 293,555	$ 137,808
Total liabilities assumed		(14,592)
Net assets acquired	621,490	278,963	137,808
Land
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	518	19,705	8,227
Buildings
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	8,942	220,769	119,626
Intangible lease assets-subject to amortization
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	1,040	20,630	$ 9,955
Net Investment in Direct Financing Leases
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	310,000
Mortgage Loans
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	200,000
Other loans
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	95,690	27,283
Equity Investments
Significant Acquisitions and Disposals [Line Items]
Total assets acquired	$ 5,300	$ 5,168

Assets Acquired (Parenthetical) (Detail)	12 Months Ended
Assets Acquired (Parenthetical) (Detail)	Dec. 31, 2012	Dec. 31, 2011
Significant Acquisitions and Disposals [Line Items]
Weighted average useful life of acquired intangible lease assets (in years)	14 years 1 month 6 days
Intangible lease assets-subject to amortization
Significant Acquisitions and Disposals [Line Items]
Weighted average useful life of acquired intangible lease assets (in years)	15 years	13 years 10 months 24 days

Real Estate and Loans Receivable - Additional Information (Detail)	1 Months Ended																										3 Months Ended								12 Months Ended
	Dec. 27, 2012 USD ($)	Dec. 20, 2012 USD ($)	Dec. 14, 2012 USD ($) yr	Oct. 31, 2012 USD ($)	Oct. 22, 2012 USD ($)	Sep. 28, 2012 USD ($)	Sep. 04, 2012	Aug. 21, 2012 USD ($)	Jul. 03, 2012 USD ($)	Jun. 15, 2012 USD ($)	Jun. 13, 2012 USD ($)	May 04, 2012 USD ($)	Mar. 31, 2012 USD ($)	Dec. 30, 2011 USD ($)	Nov. 04, 2011 USD ($)	Oct. 14, 2011 USD ($)	Sep. 30, 2011 USD ($) yr	Jul. 18, 2011 USD ($) yr	Feb. 14, 2011 USD ($)	Feb. 04, 2011 USD ($) yr	Jan. 31, 2011 USD ($) yr	Jan. 04, 2011 USD ($) yr	Oct. 31, 2010 USD ($)	Sep. 30, 2010 USD ($)	Jun. 17, 2010 USD ($)	Mar. 31, 2010	Dec. 31, 2012 USD ($)	Sep. 30, 2012 USD ($)	Dec. 31, 2011 USD ($)	Jun. 30, 2011 USD ($)	Dec. 31, 2010 USD ($)	Sep. 30, 2010 USD ($)	Jun. 30, 2010 USD ($)	Dec. 31, 2009 USD ($)	Dec. 31, 2012 USD ($) yr Property d	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Sep. 19, 2012 USD ($)	Feb. 29, 2012 USD ($)	Feb. 09, 2011 USD ($)
Significant Acquisitions and Disposals [Line Items]
Aggregate purchase price																																			$ 200,000,000
Term of lease, years \| yr																																			20
Number of lease extension options in current lease contract																											3								3
Term of lease extension, years																																			5 years
Percentage of rental rate																																			9.00%
Loan secured by mortgage interest																											$ 100,000,000								$ 100,000,000
New mortgage loan funded																																					$ (43,000,000)
Ownership interest in equity																											100.00%								100.00%
Income contributed by the acquired entity																																			$ 113,450,000	$ 81,744,000
Acquisition-related costs on consummated deals																																			5,100,000	1,900,000
Existing mortgage loan																											$ 368,650,000		$ 165,000,000		$ 165,000,000			$ 200,164,000	368,650,000	165,000,000	165,000,000
Proceeds from sale of real estate																												$ 42,000,000							71,202,000	41,130,000	97,669,000
Intangible lease assets																											52,824,000		51,206,000						$ 52,824,000	51,206,000
Capitalized lease intangibles, weighted average life (in years)																																			14 years 1 month 6 days
Amount of convertible note converted into equity interest													$ 1,600,000
Convertible note													$ 5,000,000
Percentage of equity shares from convertible debt													9.90%																						15.10%
Remaining convertible debt after conversion of part of debt																											$ 3,400,000								$ 3,400,000
Maximum percentage of entity's total assets invested on single property																											5.00%								5.00%
Lease and interest revenue earned from tenants																																			$ 54,300,000	5,500,000	1,800,000
Maximum
Significant Acquisitions and Disposals [Line Items]
Percentage of rental rate																																			5.00%
Minimum
Significant Acquisitions and Disposals [Line Items]
Percentage of rental rate																																			2.00%
Huntington
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate	$ 12,500,000
Gain (loss) on sale of real estate	1,900,000
Straight line rent receivables write-off	$ 700,000
Denham Springs LTACH
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate								$ 5,200,000
Gain (loss) on sale of real estate								$ 300,000
HealthSouth Rehabilitation Hospital of Fayetteville
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate										$ 16,000,000
Gain (loss) on sale of real estate										$ (1,400,000)
Sherman Oaks Hospital
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate														$ 20,000,000
Gain (loss) on sale of real estate														3,100,000
Straight line rent receivables write-off														$ 1,200,000
Mountainview Regional Rehabilitation Hospital
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate																																				21,100,000
Gain (loss) on sale of real estate																																				$ 2,300,000
Sharpstown Facility
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate																							$ 2,700,000
Gain (loss) on sale of real estate																							$ 700,000
Acute Care Medical Center
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate																																	$ 75,000,000
Gain (loss) on sale of real estate																																	$ 6,000,000
Number of bed sold																																	369
Montclair Hospital
Significant Acquisitions and Disposals [Line Items]
Proceeds from sale of real estate																															20,000,000
Gain (loss) on sale of real estate																															2,200,000
Straight line rent receivables write-off																															1,000,000
Thornton
Significant Acquisitions and Disposals [Line Items]
Gain (loss) on sale of real estate						$ 8,400,000
Straight line rent receivables write-off						$ 1,600,000
New Bedford
Significant Acquisitions and Disposals [Line Items]
Gain (loss) on sale of real estate					$ 7,200,000
Straight line rent receivables write-off																											$ 4,100,000
Hoboken, NJ
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity															$ 50,000,000
Term of lease, years \| yr																																			15
Number of lease extension options in current lease contract																											6								6
Term of lease extension, years																																			5 years
Number of beds acquired															350
Ownership interest in equity															100.00%
Equity investment															$ 75,000,000
Working capital loan outstanding																											$ 15,100,000								$ 15,100,000
Purchase of convertible note															$ 5,000,000
Option to acquire percentage of hospital operator															25.00%
Hoboken, NJ \| Maximum
Significant Acquisitions and Disposals [Line Items]
Working capital loan to the joint venture															$ 20,000,000
Ernest
Significant Acquisitions and Disposals [Line Items]
Existing mortgage loan																											100,000,000								100,000,000
Prime Health Care Services
Significant Acquisitions and Disposals [Line Items]
Existing mortgage loan																											100,000,000								$ 100,000,000
United States
Significant Acquisitions and Disposals [Line Items]
Percentage of total assets accounted																																			24.00%
Twelve Oaks Facility
Significant Acquisitions and Disposals [Line Items]
Facility partially occupied date																																			Feb. 20, 2013
Percentage of facility partially occupied																																			55.00%
Ernest
Significant Acquisitions and Disposals [Line Items]
Combined purchase price and investment amount																																							$ 396,500,000
Business acquisition cost of acquired entity																																							200,000,000
First mortgage loan																																							100,000,000
Acquisition loan made																											93,200,000								$ 93,200,000				93,200,000
Capital contribution																																							$ 3,300,000
Total investment																											96,500,000								$ 96,500,000
Preferential rate of return on loan amount																																			15.00%
Preferential return on remaining earnings																																			79.00%
Coupon payable in cash in, thereafter																																			10.00%
Agreement terms																																			Although there are provisions in the loan agreement that are expected to result in full payment of the 15% preference when funds are sufficient. Any of the 15% in excess of the minimum that is not paid may be accrued and paid upon the occurrence of a capital or liquidity event and is payable at maturity. The loan may be prepaid without penalty at any time.
Percentage of entity revenue from affiliates																																			18.60%
Percentage of total assets accounted																																			18.20%
Ernest \| Key Management Personnel
Significant Acquisitions and Disposals [Line Items]
Capital contribution																											$ 3,300,000								$ 3,300,000
Ernest \| Minimum
Significant Acquisitions and Disposals [Line Items]
Coupon payable in cash, year one																																			6.00%
Coupon payable in cash, year two																																			7.00%
Rehabilitation Hospital
Significant Acquisitions and Disposals [Line Items]
Number of facilities acquired																																			5
Acute Care Facility
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity			$ 10,500,000														$ 10,000,000
Number of facilities acquired																																			7
Number of states																											7								7
Term of lease, years \| yr			15														15																		15
Number of lease extension options in current lease contract			3																								3								3
Term of lease extension, years			5 years																																5 years
Number of beds acquired			40														40
Payments to acquire equity method investments			$ 2,000,000														$ 1,400,000
Ownership interest in equity			25.00%														25.00%
Working capital loan to the joint venture			$ 2,000,000														$ 2,000,000
Date of properties acquired			Sep. 30, 2011																																Sep. 30, 2011
Number of properties																																		1
Proceeds from sale of real estate																																		$ 15,000,000
Gain (loss) on sale of real estate																																		$ 300,000
Acute Care Facility \| Maximum
Significant Acquisitions and Disposals [Line Items]
Revolving loan			$ 2,500,000
Bayonne Medical Center
Significant Acquisitions and Disposals [Line Items]
Number of stories in building \| Property																																			6
Vibra Specialty Hospital
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																		$ 13,000,000
Term of lease, years \| yr																		15
Number of beds acquired																		40
Payments to acquire equity method investments																		$ 2,500,000
Ownership interest in equity																		25.00%
Date of properties acquired																		Jul. 18, 2011
Vibra Specialty Hospital \| Maximum
Significant Acquisitions and Disposals [Line Items]
Term of lease extension, years																																			5 years
Vibra Specialty Hospital \| Minimum
Significant Acquisitions and Disposals [Line Items]
Term of lease extension, years																																			3 years
Acute Care Hospitals
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																$ 30,000,000															$ 64,000,000						$ 64,000,000
Term of lease, years \| yr																																			15
Number of lease extension options in current lease contract																											3								3
Term of lease extension, years																																			5 years
Number of leased hospital																3
Agreement entry date																																			Oct. 14, 2011
Number of properties																															2						2
Acute Care Hospitals \| Maximum
Significant Acquisitions and Disposals [Line Items]
Rent escalations percentage																																			3.00%
Acute Care Hospitals \| Minimum
Significant Acquisitions and Disposals [Line Items]
Rent escalations percentage																																			1.00%
Triumph Hospital Clear Lake
Significant Acquisitions and Disposals [Line Items]
Number of lease extension options in current lease contract																															2						2
Term of lease extension, years																															5 years
Number of beds acquired																															110						110
Lease expiration year																															2025
Triumph Hospital Tomball
Significant Acquisitions and Disposals [Line Items]
Number of lease extension options in current lease contract																															2						2
Term of lease extension, years																															5 years
Number of beds acquired																															75						75
Lease expiration year																															2026
Florence Facility
Significant Acquisitions and Disposals [Line Items]
Term of lease, years													25
Cost of land and building													$ 30,000,000
Emerus Facility \| Facility which Received a Certificate of Occupancy
Significant Acquisitions and Disposals [Line Items]
Expected facility completion date																																			2013 first quarter
Cost of land and building				$ 7,600,000
Emerus Facility \| Remaining Development Facility One
Significant Acquisitions and Disposals [Line Items]
Estimated total development cost				3,700,000
Estimated total development cost, funded																																			$ 8,100,000
Emerus Facility \| Remaining Development Facility Two
Significant Acquisitions and Disposals [Line Items]
Estimated total development cost				3,100,000
Estimated total development cost, funded																																			$ 10,900,000
Prime Health Care Services
Significant Acquisitions and Disposals [Line Items]
Number of beds at Centinela Hospital Medical Center used to secure loan									369
Master lease term									10 years
Master lease agreements, number of renewal options									2
Master lease, optional lease term									5 years
Lease escalation percentage									100.00%
Percentage of entity revenue from affiliates																																			27.30%	30.80%
Percentage of total assets accounted																																			27.90%	25.30%
Prime Health Care Services \| Loans, net
Significant Acquisitions and Disposals [Line Items]
New mortgage loan funded									$ 100,000,000
LTACH Facility
Significant Acquisitions and Disposals [Line Items]
Amortization expense related to intangible lease assets																													600,000							$ 600,000
Wrote off in related straight-line rent receivables																													1,300,000
Monroe Hospital
Significant Acquisitions and Disposals [Line Items]
Straight line rent receivables write-off																																$ 2,500,000
Lease advance																											$ 29,900,000								$ 29,900,000
Operating leases rent, interest and other charges outstanding																																			20,100,000
Advanced amount of working capital loan agreement																											1,300,000								1,300,000
Interest receivables																											5,800,000								$ 5,800,000
Impairment of working capital loan recognized																																					$ 12,000,000
Number of days past due \| d																																			90
Net investment to maximum exposure																											38,000,000								$ 38,000,000
Impairment of working capital loan estimation-patient receivables considered for first priority secured interest																																			5,000,000
Impairment of working capital loan estimation-cash balance considered for first priority secured interest																																			400,000
Management agreement period							4 years
Ernest Transaction and Other Acquisitions
Significant Acquisitions and Disposals [Line Items]
Existing mortgage loan																											$ 93,200,000								93,200,000
Acute Care Facilities in Altoona
Significant Acquisitions and Disposals [Line Items]
Estimated total development cost		$ 33,500,000
Estimated total development cost, funded																																			$ 300,000
Business acquisition agreement																																			Dec. 20, 2012
Expected facility completion date		First quarter of 2014
Series of Individually Immaterial Business Acquisitions
Significant Acquisitions and Disposals [Line Items]
Ownership interest in equity																					51.00%
Working capital loan to the joint venture																					$ 5,200,000
Retained ownership in operating entity																					49.00%
Series of Individually Immaterial Business Acquisitions \| St. Mary's Regional Medical Center
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																																						$ 80,000,000
Number of beds acquired																																						380
Series of Individually Immaterial Business Acquisitions \| Roxborough Memorial Hospital
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																																						$ 30,000,000
Number of beds acquired																																						140
Series of Individually Immaterial Business Acquisitions \| Gilbert Hospital
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																						$ 17,100,000
Number of lease extension options in current lease contract																											3								3
Term of lease extension, years																																			5 years
Number of beds acquired																						19
Date of properties acquired																																			Jan. 04, 2011
Age of real estate acquired \| yr																						4
Lease expiration date																						2022-05
Rent escalations percentage																																			2.50%
Series of Individually Immaterial Business Acquisitions \| Atrium Medical Center
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																					$ 23,500,000
Term of lease, years \| yr																					15
Number of lease extension options in current lease contract																					2
Term of lease extension, years																					10 years
Number of beds acquired																					60
Date of properties acquired																																			Jan. 31, 2011
Lease expiration date																					2024-06
Date of construction																					2009
Series of Individually Immaterial Business Acquisitions \| Atrium Medical Center \| Maximum
Significant Acquisitions and Disposals [Line Items]
Rent escalations percentage																					5.00%
Series of Individually Immaterial Business Acquisitions \| Atrium Medical Center \| Minimum
Significant Acquisitions and Disposals [Line Items]
Rent escalations percentage																					1.00%
Series of Individually Immaterial Business Acquisitions \| Vibra
Significant Acquisitions and Disposals [Line Items]
Payments to acquire equity method investments																					$ 1,300,000
Ownership interest in equity																					19.00%
Series of Individually Immaterial Business Acquisitions \| Bayonne Medical Center
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																				$ 58,000,000
Term of lease, years \| yr																				15
Number of lease extension options in current lease contract																				6
Term of lease extension, years																				5 years
Number of beds acquired																				278
Date of properties acquired																																			Feb. 04, 2011
Series of Individually Immaterial Business Acquisitions \| Alvarado Hospital
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																																								$ 70,000,000
Number of beds acquired																																								306
Date of properties acquired																																			Feb. 09, 2011
Series of Individually Immaterial Business Acquisitions \| Northland Ltach Hospital
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																			$ 19,500,000
Number of lease extension options in current lease contract																											3								3
Term of lease extension, years																																			5 years
Number of beds acquired																			35
Date of properties acquired																																			Feb. 14, 2011
Rent escalations percentage																																			2.75%
Lease expiration year																			2028
Construction completion date																			2008-04
Existing mortgage loan																											$ 15,000,000								$ 15,000,000
Mortgage loan, maturity date																																			2018-01
Series of Individually Immaterial Business Acquisitions \| Inpatient rehabilitation hospital in spartanburg
Significant Acquisitions and Disposals [Line Items]
Business acquisition cost of acquired entity																									$ 74,000,000
Term of lease extension, years																																			10 years
Date of properties acquired																																			Jun. 17, 2010
Lease expiration year																									2033
Number of properties																									3
Number of leases renewed																																			2
Business Acquisitions
Significant Acquisitions and Disposals [Line Items]
Revenue contributed by the acquired entity																																			$ 46,300,000	21,200,000	4,300,000
Income contributed by the acquired entity																																			46,100,000	14,100,000	3,400,000
Acquisition related costs																																			5,400,000	4,200,000	2,000,000
Acquisition-related costs on consummated deals																																			5,100,000	1,900,000	1,100,000
Ernest \| Rehabilitation Hospital
Significant Acquisitions and Disposals [Line Items]
Number of beds acquired											40
Estimated total development cost											$ 16,600,000
Estimated total development cost, funded																																			$ 13,300,000
Business acquisition agreement																																			Jun. 13, 2012
Expected facility completion date											2013 first quarter.
Ernest \| Inpatient rehabilitation hospital in spartanburg
Significant Acquisitions and Disposals [Line Items]
Estimated total development cost				$ 18,000,000
Business acquisition agreement																																			Oct. 01, 2012
Expected facility completion date				Third quarter of 2013
Estimated total development cost, funded																																			$ 3,700,000
Intangible Assets
Significant Acquisitions and Disposals [Line Items]
Accumulated amortization, net																											40,500,000		42,500,000						40,500,000	42,500,000
Amortization expense related to intangible lease assets																											$ 3,900,000		$ 5,200,000		$ 3,200,000				3,900,000	$ 5,200,000	3,200,000
Leasing Operations
Significant Acquisitions and Disposals [Line Items]
Number of lease extension options in current lease contract																										3
Term of lease extension, years																										5 years
Revenue contributed by the acquired entity																																					1,400,000
Straight line rent receivables write-off																								$ 200,000
Gain resulted in exchange of real estate property																								$ 1,300,000
Rate of increase in annual rent																																				2.00%
Leasing Operations \| Bucks County Facility
Significant Acquisitions and Disposals [Line Items]
Agreed to settle unpaid rent																															3,800,000						3,800,000
Unpaid rent																															1,400,000
Charge to unpaid rent																															$ 2,400,000
Leasing Operations \| Redding Hospital
Significant Acquisitions and Disposals [Line Items]
Income expected to be recognized from remaining lease period including previous values																																			1,200,000	$ 1,200,000	$ 1,200,000
Additional rent received from lease agreement																																	$ 12,000,000
Income expected to recognize from remaining lease period																														$ 7,000,000					5,000,000
Victoria, TX \| Acute Care Facility
Significant Acquisitions and Disposals [Line Items]
Number of beds acquired												26
Lease expiration year												2028
Estimated total development cost												$ 9,400,000
Estimated total development cost, funded																																			$ 1.9
Business acquisition agreement																																			May 04, 2012
Expected facility completion date												Third quarter of 2013

Unaudited Pro Forma Consolidated Financial Data (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011
Business Acquisition [Line Items]
Total revenues	$ 224,796	$ 213,642
Net income	$ 113,450	$ 81,744
Net income per share/unit	$ 0.84	$ 0.60

Amortization Expense from Existing Lease Intangible Assets (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Finite Lived Intangible Assets Amortization Expense [Line Items]
2013	$ 3,351
2014	3,286
2015	3,097
2016	3,055
2017	$ 3,046

Components of Net Investment in Direct Financing Leases (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Rental Income [Line Items]
Minimum lease payments receivable	$ 1,277,923
Estimated residual values	201,283
Less unearned income	(1,164,794)
Net investment in direct financing leases	$ 314,412

Minimum Rental Payments Due in Future Period under Operating Leases and Direct Finance Leases which have Non-Cancelable Terms (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Leases User Charges And Commitments [Line Items]
2013	$ 2,344
2014	2,119
2015	2,218
2016	2,233
2017	2,239
Thereafter	41,799
Minimum rental payments, total	52,952
Minimum Rental Payments
Leases User Charges And Commitments [Line Items]
2013	149,673
2014	148,822
2015	146,820
2016	147,887
2017	148,072
Thereafter	1,205,073
Minimum rental payments, total	1,946,347
Minimum Rental Payments \| Operating Lease Expense
Leases User Charges And Commitments [Line Items]
2013	119,602
2014	118,150
2015	115,535
2016	115,976
2017	115,523
Thereafter	811,528
Minimum rental payments, total	1,396,314
Minimum Rental Payments \| Direct Financing Leases
Leases User Charges And Commitments [Line Items]
2013	30,071
2014	30,672
2015	31,285
2016	31,911
2017	32,549
Thereafter	393,545
Minimum rental payments, total	$ 550,033

Summary of Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
Summary of Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011
Loans [Line Items]
Loans, Balance	$ 527,893	$ 239,839
Mortgage Loans
Loans [Line Items]
Loans, Balance	$ 368,650	$ 165,000
Loans, Weighted Average Interest Rate	10.00%	10.20%
Other loans
Loans [Line Items]
Loans, Balance	$ 159,243	$ 74,839
Loans, Weighted Average Interest Rate	13.20%	10.50%

Summary of Debt (Detail) - USD ($) $ in Thousands	12 Months Ended
Summary of Debt (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Feb. 17, 2012	Sep. 30, 2011	Apr. 30, 2008
Debt Instrument [Line Items]
Debt, net	$ 1,025,160	$ 689,849
Revolving Credit Facilities
Debt Instrument [Line Items]
Principal amount	$ 125,000	$ 89,600
Interest rate	Variable	Variable
2006 Senior Unsecured Notes
Debt Instrument [Line Items]
Principal amount	$ 125,000	$ 125,000
Interest rate	Various	Various
2011 Senior Unsecured Notes
Debt Instrument [Line Items]
Principal amount	$ 450,000	$ 450,000
Unsecured senior notes, interest rate	6.875%	6.875%
2012 Senior Unsecured Notes
Debt Instrument [Line Items]
Principal amount	$ 200,000
Unsecured senior notes, interest rate	6.375%		6.375%
Exchangeable Senior Notes
Debt Instrument [Line Items]
Principal amount	$ 11,000	$ 11,000
Unamortized discount	(37)	(180)
Debt instrument, net	$ 10,963	$ 10,820
Unsecured senior notes, interest rate	9.25%	9.25%		9.25%	9.25%
Term Loans
Debt Instrument [Line Items]
Principal amount	$ 14,200
Debt instrument, net	$ 114,197	$ 14,429
Unsecured senior notes, interest rate	6.20%	6.20%
Interest rate	Various

Principal Payments Due for Debt (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Debt Instrument [Line Items]
2013	$ 11,249
2014	265
2015	125,283
2016	225,299
2017	320
Thereafter	662,781
Total	$ 1,025,197

Debt - Additional Information (Detail) $ / shares in Units, $ in Thousands	1 Months Ended											3 Months Ended			7 Months Ended	12 Months Ended
	Mar. 31, 2012 USD ($)	Mar. 09, 2012 USD ($)	Feb. 17, 2012 USD ($)	Oct. 31, 2011 USD ($)	Jul. 31, 2011 USD ($)	Apr. 30, 2011 USD ($)	Apr. 26, 2011 USD ($)	Feb. 14, 2011 USD ($) yr	Apr. 30, 2008 USD ($) $ / shares	Mar. 31, 2008 USD ($)	Jun. 30, 2007 USD ($)	Oct. 31, 2011 USD ($)	Sep. 30, 2011 USD ($)	Jun. 30, 2010 USD ($)	Jul. 30, 2011 USD ($)	Dec. 31, 2012 USD ($)	Dec. 31, 2011 USD ($)	Dec. 31, 2010 USD ($)	Aug. 31, 2011 USD ($)	Dec. 31, 2006 USD ($)
Debt Instrument [Line Items]
Hedge ineffectiveness and income statement effect in period																$ 0	$ 0	$ 0
Other assets, collateral																$ 6,600	$ 6,300
Percentage of dividends which could be paid from adjusted operating funds																105.00%
Restricted percentage for dividend payment for next year																95.00%
Percentage of dividends which could be paid from operation funds																95.00%
Maximum percentage of total unencumbered assets																150.00%	150.00%
Interest Rate Contract
Debt Instrument [Line Items]
Fair value of the interest rate swaps																$ 12,500	$ 12,200
Interest Rate Contract One
Debt Instrument [Line Items]
Interest rate of interest rate derivative instrument														5.507%
Maturity date of interest rate swap														July 2016
Interest Rate Contract Two
Debt Instrument [Line Items]
Maturity date of interest rate swap				October 2016
Interest rate swap, amount fixed				$ 60,000								$ 60,000
Interest rate of derivative instrument				5.675%
2006 Senior Unsecured Notes
Debt Instrument [Line Items]
Senior Unsecured Notes																				$ 125,000
Interest rate							6.875%								7.871%
Debt instrument maturity date							May 01, 2021
Debt instrument face amount							$ 450,000
Senior notes frequency of periodic payment							Semi-annually					Quarterly			Quarterly
Senior notes, earliest redemption date							May 01, 2016
Senior notes, repurchase price percentage on principal amount plus accrued and unpaid interest							101.00%
Credit facilities, periodic payments of interest															$ 65,000
Unsecured senior notes, year of maturity												2016-07			2016-07
Fixed rate, minimum												7.333%
Fixed rate, maximum												7.715%
LIBOR \| 2006 Senior Unsecured Notes
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate				2.30%								2.30%			2.30%
Unsecured Senior Notes
Debt Instrument [Line Items]
Private offering						$ 450,000
Collateralized Revolving Bank Credit Facility
Debt Instrument [Line Items]
Credit facilities, weighted average interest rate																1.80%	1.60%
Credit facilities, amount outstanding											$ 42,000						$ 39,600
Credit facility, maturity date											2012-06
Credit facilities, basis spread of interest rate																	1.80%
Credit facilities, repayment term											Five years
Credit facilities, remaining borrowing capacity																	$ 0
Collateralized Revolving Bank Credit Facility \| LIBOR
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate											1.50%
2012 Senior Unsecured Notes
Debt Instrument [Line Items]
Senior Unsecured Notes			$ 200,000
Interest rate			6.375%													6.375%
Debt instrument maturity date			Feb. 15, 2022
Net proceeds, after underwriting discount			$ 196,500
Debt instrument face amount																$ 200,000
Senior notes frequency of periodic payment			Semi-annually
Senior notes, earliest redemption date			Feb. 15, 2017
Senior notes, repurchase price percentage on principal amount plus accrued and unpaid interest			101.00%
2012 Term Loan
Debt Instrument [Line Items]
Debt instrument maturity date		Mar. 09, 2016
Paid off term loan		$ 100,000
Initial spread interest rate		1.25%
Term loan facility, potential term extension period		1 year
Term loan facility, extension option maturity date		Mar. 09, 2017
2012 Term Loan \| LIBOR
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate		2.25%
2012 Term Loan \| Federal Funds Rate
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate		0.50%
2012 Term Loan \| Euro Dollar Rate
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate		1.00%
Exchangeable Senior Notes
Debt Instrument [Line Items]
Interest rate									9.25%				9.25%			9.25%	9.25%
Debt instrument maturity date									Apr. 01, 2013
Percentage of outstanding notes purchased from senior unsecured notes offering					85.00%								86.60%
Senior notes, maturity year													2013
Credit facilities, weighted average interest rate													118.40%
Price of principal amount plus accrued and unpaid interest, in amount					$ 84,200								$ 84,100
Debt instrument face amount																$ 11,000	$ 11,000
Senior Notes									$ 7,000	$ 75,000									$ 1,500
Proceeds from senior notes									$ 6,800	$ 72,800
Exchange price of notes per common share \| $ / shares									$ 12.36
Price of principal amount plus accrued and unpaid interest, in percentage					118.50%
Unsecured Senior Notes
Debt Instrument [Line Items]
Charge of refinancing activities																	$ 14,200
Unsecured Revolving Credit Facility
Debt Instrument [Line Items]
Credit facilities, weighted average interest rate																3.20%	3.20%
Debt instrument face amount	$ 70,000
Credit facilities, amount outstanding																$ 125,000	$ 50,000
Credit facility, maturity date	2015-10
Credit facilities, basis spread of interest rate																2.85%	2.85%
Initial spread interest rate	1.60%
Revolving facility agreement, availability																$ 275,000
Unsecured Revolving Credit Facility \| Minimum
Debt Instrument [Line Items]
Credit facilities, amount outstanding	$ 330,000
Credit facilities, basis spread of interest rate	1.60%
Credit facilities, percentage of commitment fee on unused capacity	0.375%
Unsecured Revolving Credit Facility \| Maximum
Debt Instrument [Line Items]
Credit facilities, amount outstanding	$ 400,000
Credit facilities, basis spread of interest rate	2.40%
Credit facilities, percentage of commitment fee on unused capacity	0.50%
Unsecured Revolving Credit Facility \| LIBOR \| Minimum
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate	2.60%
Unsecured Revolving Credit Facility \| LIBOR \| Maximum
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate	3.40%
Unsecured Revolving Credit Facility \| Federal Funds Rate
Debt Instrument [Line Items]
Credit facilities, basis spread of interest rate	0.50%
2006 Senior Unsecured Notes
Debt Instrument [Line Items]
Debt instrument face amount																125,000	$ 125,000
Portion of debt instrument face amount														$ 65,000
Mortgages
Debt Instrument [Line Items]
Collateralized real estate property																$ 17,200	$ 17,600
Mortgages \| Northland Ltach Hospital
Debt Instrument [Line Items]
Interest rate								6.20%
Debt instrument maturity date								Jan. 01, 2018
Liabilities acquired								$ 14,600
Amortization period \| yr								30
Debt instrument earliest prepayment date								Jan. 01, 2013
Term Loans
Debt Instrument [Line Items]
Interest rate																6.20%	6.20%
Debt instrument face amount																$ 14,200

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Taxes [Line Items]
Percentage of ordinary taxable income to be distributed for real estate investment trust qualification	90.00%
Percentage of taxable income to be distributed for federal income tax assumption	100.00%
Tax expenses	$ 0.1	$ 0.1	$ 1.6
Net deferred tax asset	8.5	8.7
U.S federal NOLs	10.6
U.S. state NOLs	$ 10.8
U.S. federal and state NOLs, expiration period	2020 through 2031
Valuation allowance	$ 8.5	$ 8.9

- Definition

Amount before allocation of valuation allowances of deferred tax asset attributable to deductible state and local operating loss carryforwards.

+ References + Details

Schedule of Per Share Distributions to Stockholders (Detail) - $ / shares

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Income Tax [Line Items]

Common share distribution

$ 0.800000

Ordinary income

0.601216

0.300844

0.388128

Capital gains

^[1]

0.117584

0.031396

0.027724

Unrecaptured Sec. 1250 gain

0.086976

0.031396

0.022784

Return of capital

0.081200

0.467760

0.384148

Allocable to next year

[1]	Capital gains include unrecaptured Sec. 1250 gains.

Calculation of Earnings Per Share (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Income from continuing operations	$ 23,894	$ 23,221	$ 19,358	$ 8,920	$ 6,296	$ (2,170)	$ 2,559	$ 7,834	$ 75,393	$ 14,519	$ 3,029
Basic weighted-average common shares/units	134,923	134,781	134,715	124,906	110,788	110,714	110,589	110,400	132,331	110,623	100,706
Diluted weighted-average common shares/units	134,930	134,782	134,715	124,906	110,788	110,719	110,600	110,408	132,333	110,629	100,708
Medical Properties Trust, Inc.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Income from continuing operations									$ 75,393	$ 14,519	$ 3,029
Non-controlling interests' share in continuing operations									(177)	(178)	(99)
Participating securities' share in earnings									(886)	(1,090)	(1,254)
Income from continuing operations, less participating securities' share in earnings									74,330	13,251	1,676
Income from discontinued operations attributable to MPT common stockholders									14,684	12,195	19,983
Net income, less participating securities' share in earnings									$ 89,014	$ 25,446	$ 21,659
Basic weighted-average common shares/units									132,331	110,623	100,706
Dilutive stock options									2	6	2
Diluted weighted-average common shares/units									132,333	110,629	100,708

Calculation of Earnings Per Unit (Detail) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Income from continuing operations	$ 23,894	$ 23,221	$ 19,358	$ 8,920	$ 6,296	$ (2,170)	$ 2,559	$ 7,834	$ 75,393	$ 14,519	$ 3,029
Basic weighted-average common shares/units	134,923	134,781	134,715	124,906	110,788	110,714	110,589	110,400	132,331	110,623	100,706
Diluted weighted-average common shares/units	134,930	134,782	134,715	124,906	110,788	110,719	110,600	110,408	132,333	110,629	100,708
MPT Operating Partnership, L.P.
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Income from continuing operations	$ 23,894	$ 23,221	$ 19,358	$ 8,920	$ 6,251	$ (2,152)	$ 2,586	$ 7,851	$ 75,393	$ 14,536	$ 3,104
Non-controlling interests' share in continuing operations									(177)	(178)	(99)
Participating securities' share in earnings									(886)	(1,090)	(1,254)
Income from continuing operations, less participating securities' share in earnings									74,330	13,268	1,751
Income from discontinued operations attributable to MPT Operating Partnership partners									14,684	12,195	19,983
Net income, less participating securities' share in earnings									$ 89,014	$ 25,463	$ 21,734
Basic weighted-average common shares/units	134,923	134,781	134,715	124,906	110,788	110,714	110,589	110,400	132,331	110,623	100,706
Dilutive stock options									2	6	2
Diluted weighted-average common shares/units	134,930	134,782	134,715	124,906	110,788	110,719	110,600	110,408	132,333	110,629	100,708

Earnings Per Share/Unit - Additional Information (Detail) - shares shares in Millions	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Options excluded from earnings per share/unit	0.1	0.1	0.1

- Definition

Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Antidilution
-URI http://asc.fasb.org/extlink&oid=6505113

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Diluted Earnings Per Share
-URI http://asc.fasb.org/extlink&oid=6510752

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Glossary Contingent Stock Agreement
-URI http://asc.fasb.org/extlink&oid=6508534

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6371337&loc=d3e3550-109257

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 40
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 13, 14
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Emerging Issues Task Force (EITF)
-Number 07-4
-Paragraph 4
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 128
-Paragraph 171
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

Stock Awards - Additional Information (Detail)	3 Months Ended	12 Months Ended
Stock Awards - Additional Information (Detail)	Dec. 31, 2012 USD ($) $ / shares shares	Dec. 31, 2012 USD ($) yr $ / shares shares	Dec. 31, 2011 USD ($) yr shares	Dec. 31, 2010 USD ($) yr shares	Dec. 31, 2007
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Reserved shares of common stock for awards under the Equity Incentive Plan	7,441,180	7,441,180
Common stock remaining for future stock awards	1,489,812	1,489,812
Maximum number of shares of common stock that may be awarded		1,000,000
Number of stock options outstanding	60,000	60,000
Number of stock options exercisable	60,000	60,000
Stock options, weighted-average exercise price \| $ / shares	$ 10.00	$ 10.00
Stock options, intrinsic value of options exercisable and outstanding \| $	$ 0	$ 0
Stock options forfeited		50,000
Stock options awarded, weighted average remaining contractual term (in years)		1 year 7 months 6 days
Stock based compensation expense \| $		$ 7,600,000	$ 7,000,000	$ 6,600,000
Percentage of superior performance awards will earned if we perform at or above fiftieth percentile				33.334%
Percentage of superior performance awards were deemed forfeited				66.666%
Stock-based compensation expense, unrecognized cost \| $	10,100,000	$ 10,100,000
Stock-based compensation expense, unrecognized cost, reorganization period (in years)		2 years 6 months
Restricted equity awards, fair value \| $		$ 9,200,000	$ 6,100,000	$ 6,100,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award vesting period (in years)		10 years
Settled in Cash
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of stock options settled for cash			20,000
2010 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate				42.00%
Stock-based awards expiration date				Dec. 31, 2014
Share base payment award, weighted average risk-free rate of return				2.60%
Common stock options awarded, dividend yield				8.50%
Percentage of shareholder return annually				9.50%
Percentage of shareholder return annually achieving period (in years) \| yr				3
Share-based compensation arrangement by share based payment award, expected term (in years)				4 years
Number of performance awards earned		121,733		60,866
Stock based compensation expense \| $	$ 400,000
Core Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award vesting period (in years)					7 years
Percentage of shareholder return annually					9.00%
Number of performance awards earned		79,283
Number of performance awards to be earned		317,143
Percentage of shareholder return on a pro-rated basis					7.50%
Percentage of shareholder annual maximum total return					9.00%
Superior Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award vesting period (in years)				3 years
Service-Based Awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award required service period (in years)		7 years
Service-Based Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock award required service period (in years)		3 years
2012 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance awards earned		92,094
Number of performance awards to be earned		804,547
2011 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of performance awards earned		147,256
Number of performance awards to be earned		684,851
30% Of 2011 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate			33.00%
Stock-based awards expiration date			Dec. 31, 2015
Share base payment award, weighted average risk-free rate of return			2.07%
Common stock options awarded, dividend yield			8.50%
Percentage of performance award grant in period			30.00%
Percentage of shareholder return annually			9.00%
Percentage of shareholder return annually achieving period (in years) \| yr			3
Share-based compensation arrangement by share based payment award, expected term (in years)			4 years
18% Of 2011 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate			34.00%
Share base payment award, weighted average risk-free rate of return			1.07%
Common stock options awarded, dividend yield			8.50%
Percentage of performance award grant in period			18.00%
Share-based compensation arrangement by share based payment award, expected term (in years)			5 years
Percentage of performance award to be earned of shareholder return reaches shareholder limit			100.00%
18% Of 2011 Performance Awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shareholder return to be earned			39.00%
18% Of 2011 Performance Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shareholder return to be earned			27.00%
18% Of 2011 Performance Awards \| If any shares are earned from this award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award vesting rights			Vest in equal annual amounts on January 1, 2014, 2015 and 2016
Remaining % Of 2011 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate			34.00%
Share base payment award, weighted average risk-free rate of return			1.07%
Common stock options awarded, dividend yield			8.50%
Share-based compensation arrangement by share based payment award, expected term (in years)			5 years
Percentage of performance award to be earned of shareholder return reaches shareholder limit			100.00%
Percentage of shareholder return to be earned			12.00%
Remaining % Of 2011 Performance Awards \| If any shares are earned from this award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award vesting rights			Vest in equal annual amounts on January 1, 2014, 2015 and 2016
30% of 2012 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate		34.00%
Stock-based awards expiration date		Dec. 31, 2016
Share base payment award, weighted average risk-free rate of return		0.93%
Common stock options awarded, dividend yield		8.60%
Percentage of performance award grant in period		30.00%
Percentage of shareholder return annually		9.00%
Percentage of shareholder return annually achieving period (in years) \| yr		3
Share-based compensation arrangement by share based payment award, expected term (in years)		4 years
35% of 2012 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate		35.00%
Share base payment award, weighted average risk-free rate of return		0.43%
Common stock options awarded, dividend yield		8.60%
Percentage of performance award grant in period		35.00%
Share-based compensation arrangement by share based payment award, expected term (in years)		5 years
Percentage of performance award to be earned of shareholder return reaches shareholder limit		100.00%
35% of 2012 Performance Awards \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shareholder return to be earned		35.00%
35% of 2012 Performance Awards \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of shareholder return to be earned		27.00%
35% of 2012 Performance Awards \| If any shares are earned from this award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award vesting rights		Vest in equal annual amounts on January 1, 2015, 2016 and 2017
Remaining % of 2012 Performance Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based payment award, expected volatility rate		35.00%
Share base payment award, weighted average risk-free rate of return		0.43%
Common stock options awarded, dividend yield		8.60%
Share-based compensation arrangement by share based payment award, expected term (in years)		5 years
Percentage of performance award to be earned of shareholder return reaches shareholder limit		100.00%
Percentage of shareholder return to be earned		6.00%
Remaining % of 2012 Performance Awards \| If any shares are earned from this award
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation award vesting rights		Vest in equal annual amounts on January 1, 2015, 2016 and 2017

Restricted Equity Awards (Detail) - $ / shares	12 Months Ended
Restricted Equity Awards (Detail) - $ / shares	Dec. 31, 2012	Dec. 31, 2011
Vesting Based on Service
Employee Restricted Equity Awards Vesting Activity [Line Items]
Nonvested awards at beginning of the year, Shares	603,980	783,305
Awarded, Shares	275,464	292,803
Vested, Shares	(410,261)	(453,980)
Forfeited, Shares	(2,300)	(18,148)
Nonvested awards at end of year, Shares	466,883	603,980
Nonvested awards at beginning of the year, Weighted Average Value at Award Date	$ 11.02	$ 10.43
Awarded, Weighted Average Value at Award Date	10.14	10.76
Vested, Weighted Average Value at Award Date	10.78	9.89
Forfeited, Weighted Average Value at Award Date	10.24	9.70
Nonvested awards at end of year, Weighted Average Value at Award Date	$ 10.72	$ 11.02
Vesting Based on Market/Performance Conditions
Employee Restricted Equity Awards Vesting Activity [Line Items]
Nonvested awards at beginning of the year, Shares	1,511,397	828,409
Awarded, Shares	902,359	853,656
Vested, Shares	(513,693)	(163,575)
Forfeited, Shares	(20,174)	(7,093)
Nonvested awards at end of year, Shares	1,879,889	1,511,397
Nonvested awards at beginning of the year, Weighted Average Value at Award Date	$ 7.21	$ 8.70
Awarded, Weighted Average Value at Award Date	5.16	5.72
Vested, Weighted Average Value at Award Date	8.62	6.87
Forfeited, Weighted Average Value at Award Date	4.59	9.32
Nonvested awards at end of year, Weighted Average Value at Award Date	$ 5.87	$ 7.21

Commitments and Contingencies - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Commitment And Contingencies [Line Items]
Term of lease period	50 years or more
Lease and Rental Expenses	$ 2,195,835	$ 1,994,565	$ 989,170
Sublease rental income	492,095	$ 443,829	$ 520,090
Total amount to be received in the future from non-cancellable subleases	$ 35,500,000

Fixed Minimum Payments Due under Operating Leases with Non-Cancelable Terms (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Operating Leases Disclosure [Line Items]
2013	$ 2,344
2014	2,119
2015	2,218
2016	2,233
2017	2,239
Thereafter	41,799
Minimum rental payments, total	$ 52,952

Common Stock/Partners Capital - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Feb. 07, 2012	Apr. 30, 2010	Dec. 31, 2012	Mar. 31, 2010	Dec. 31, 2012	Dec. 31, 2010	Feb. 29, 2012	Dec. 31, 2011	Nov. 30, 2009
Class of Stock [Line Items]
Common stock, shares issued			136,335,000		136,335,000			110,786,000
Net proceed from issuance of common stock					$ 233,048	$ 288,066
Common stock, Shares authorized			250,000,000		250,000,000		250,000,000	250,000,000
Common stock, par value			$ 0.001		$ 0.001		$ 0.001	$ 0.001
Ownership interest in equity			100.00%		100.00%
MPT Operating Partnership, L.P.
Class of Stock [Line Items]
Net proceed from issuance of common stock					$ 233,048	$ 288,066
Percentage of ownership of general partner					100.00%
Ownership interest in equity			99.80%		99.80%
Number of other partners					3
Employee
Class of Stock [Line Items]
Number of partners shared remaining ownership percentage					2
Director
Class of Stock [Line Items]
Number of partners shared remaining ownership percentage					1
Public Offering
Class of Stock [Line Items]
Common stock, shares issued	23,575,000	26,000,000
Underwriters' purchase of shares to cover over allotments	3,075,000	3,900,000
Public offering price for common stock per share	$ 9.75	$ 9.75
Net proceed from issuance of common stock	$ 220,100	$ 279,100
Market Equity Offering Program
Class of Stock [Line Items]
Common stock, shares issued			1,100,000	900,000	1,100,000
Public offering price for common stock per share			$ 11.84	$ 10.77
Net proceed from issuance of common stock			$ 13,200	$ 9,500
Sales commission			2.00%	2.00%
Market Equity Offering Program \| Maximum
Class of Stock [Line Items]
Number of shares can be sold out									$ 50,000
Before Amendment
Class of Stock [Line Items]
Common stock, Shares authorized							150,000,000

Summary of Fair Value Estimates for Financial Instruments (Detail) - USD ($)
$ in Thousands

Dec. 31, 2012

Dec. 31, 2011

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest and rent receivables

$ 45,289

$ 29,862

Loans

^[1]

334,693

239,839

Debt, net

(1,025,160)

(689,849)

Estimate of Fair Value, Fair Value Disclosure

Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]

Interest and rent receivables

36,700

22,866

Loans

^[1]

335,595

243,272

Debt, net

$ (1,082,333)

$ (688,032)

[1]	Excludes loans related to Ernest Transaction since they are recorded at fair value and discussed below.

Equity Interest in Ernest and Related Loans Measured at Fair Value on Recurring Basis (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]
Fair Valuecc	$ 196,500
Cost	196,500
Mortgage Loans
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]
Fair Valuecc	100,000
Cost	100,000
Acquisition Loan
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]
Fair Valuecc	93,200
Cost	93,200
Equity Investments
Financial Instruments Measured At Fair Value On Recurring Basis [Line Items]
Fair Valuecc	3,300
Cost	$ 3,300

- Definition

Value of the investment at close of period. For schedules of investments that are categorized, the value would be aggregated by category. For investment in and advances to affiliates, if operations of any controlled companies are different in character from those of the company, group such affiliates within divisions and by type of activities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 1
-Subparagraph (SX 210.12-12.Column C.3,4)
-URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611133-123010

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 4
-Subparagraph (SX 210.12-12C.Column C.7)
-URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611225-123010

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 6
-Subparagraph (SX 210.12-14.Column E.2,3)
-URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611322-123010

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-Section S99
-Paragraph 5
-Subparagraph (SX 210.12-13.Column C.6)
-URI http://asc.fasb.org/extlink&oid=6955306&loc=d3e611282-123010

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Paragraph Column C
-Article 12

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12
-Paragraph 3, 4
-Article 12

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 14
-Paragraph 2, 3
-Article 12

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 13
-Paragraph 6
-Article 12

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12C
-Paragraph 7
-Article 12

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 14
-Paragraph Column E
-Article 12

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 12C
-Paragraph Column C
-Article 12

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 13
-Paragraph Column C
-Article 12

+ Details

Fair Value of Financial Instruments - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2012
Fair Value Measurements Of Financial Instruments [Line Items]
Adjustment for marketability discount	40.00%

Discontinued Operations - Additional Information (Detail) - Property	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of properties sold	5	2	3

Discontinued Operations (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Revenues									$ 197	$ 11,369	$ 17,661
Gain on sale									16,369	5,431	10,566
Income from discontinued operations	$ 4,709	$ 8,287	$ 2	$ 1,686	$ 6,444	$ 2,638	$ 123	$ 2,990	$ 14,684	$ 12,195	$ 19,983
Income from discontinued operations - diluted per share/unit									$ 0.11	$ 0.11	$ 0.20

- Definition

Amount of income (loss) from a disposal group, net of income tax before extraordinary items allocable to noncontrolling interests. Includes, net of tax, income (loss) from operations during the phase-out period, gain (loss) on disposal, provision (or any reversals of earlier provisions) for loss on disposal, and adjustments of a prior period gain (loss) on disposal.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 225
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04.12)
-URI http://asc.fasb.org/extlink&oid=6879464&loc=d3e573970-122913

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 225
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03.14)
-URI http://asc.fasb.org/extlink&oid=6880815&loc=d3e20235-122688

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=6360339&loc=d3e1361-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=6892542&loc=d3e957-107759

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 04
-Paragraph 13
-Article 7

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher AICPA
-Name Accounting Research Bulletin (ARB)
-Number 51
-Paragraph 29
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 43
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Statement of Financial Accounting Standard (FAS)
-Number 144
-Paragraph 47
-Subparagraph c
-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Regulation S-X (SX)
-Number 210
-Section 03
-Paragraph 15
-Article 5

+ Details

Unaudited Quarterly Financial Information (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Quarterly Financial Information [Line Items]
Revenues	$ 57,407	$ 53,315	$ 49,408	$ 41,267	$ 34,417	$ 34,282	$ 34,776	$ 32,009	$ 201,397	$ 135,484	$ 108,024
Income (loss) from continuing operations	23,894	23,221	19,358	8,920	6,296	(2,170)	2,559	7,834	75,393	14,519	3,029
Income from discontinued operations	4,709	8,287	2	1,686	6,444	2,638	123	2,990	14,684	12,195	19,983
Net income	28,603	31,508	19,360	10,606	12,740	468	2,682	10,824	90,077	26,714	23,012
Net income attributable to MPT common stockholders	$ 28,556	$ 31,464	$ 19,316	$ 10,564	$ 12,692	$ 424	$ 2,640	$ 10,780	$ 89,900	$ 26,536	$ 22,913
Net income attributable to MPT common stockholders per share - basic	$ 0.21	$ 0.23	$ 0.14	$ 0.08	$ 0.11		$ 0.02	$ 0.09	$ 0.67	$ 0.23	$ 0.22
Weighted average shares outstanding - basic	134,923	134,781	134,715	124,906	110,788	110,714	110,589	110,400	132,331	110,623	100,706
Net income attributable to MPT common stockholders per share - diluted	$ 0.21	$ 0.23	$ 0.14	$ 0.08	$ 0.11		$ 0.02	$ 0.09	$ 0.67	$ 0.23	$ 0.22
Weighted average shares outstanding - diluted	134,930	134,782	134,715	124,906	110,788	110,719	110,600	110,408	132,333	110,629	100,708
MPT Operating Partnership, L.P.
Quarterly Financial Information [Line Items]
Revenues	$ 57,407	$ 53,315	$ 49,408	$ 41,267	$ 34,417	$ 34,282	$ 34,776	$ 32,009	$ 201,397	$ 135,484	$ 108,024
Income (loss) from continuing operations	23,894	23,221	19,358	8,920	6,251	(2,152)	2,586	7,851	75,393	14,536	3,104
Income from discontinued operations	4,709	8,287	2	1,686	6,444	2,638	123	2,990	14,684	12,195	19,983
Net income	28,603	31,508	19,360	10,606	12,695	486	2,709	10,841	90,077	26,731	23,087
Net income attributable to MPT common stockholders	$ 28,556	$ 31,464	$ 19,316	$ 10,564	$ 12,647	$ 443	$ 2,667	$ 10,796	$ 89,900	$ 26,553	$ 22,988
Net income attributable to MPT common stockholders per share - basic	$ 0.21	$ 0.23	$ 0.14	$ 0.08	$ 0.11		$ 0.02	$ 0.09	$ 0.67	$ 0.23	$ 0.22
Weighted average shares outstanding - basic	134,923	134,781	134,715	124,906	110,788	110,714	110,589	110,400	132,331	110,623	100,706
Net income attributable to MPT common stockholders per share - diluted	$ 0.21	$ 0.23	$ 0.14	$ 0.08	$ 0.11		$ 0.02	$ 0.09	$ 0.67	$ 0.23	$ 0.22
Weighted average shares outstanding - diluted	134,930	134,782	134,715	124,906	110,788	110,719	110,600	110,408	132,333	110,629	100,708

Condensed Consolidated Balance Sheets (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Condensed Financial Statements, Captions [Line Items]
Net investment in direct financing leases	$ 314,412
Real estate held for sale		$ 59,793
Mortgage loans	368,650	165,000
Gross investment in real estate assets	1,963,777	1,429,850
Net investment in real estate assets	1,837,043	1,336,662
Cash and cash equivalents	37,311	102,726	$ 98,408	$ 15,307
Interest and rent receivables	45,289	29,862
Straight-line rent receivables	35,860	33,993
Other loans	159,243	74,839
Other assets	64,140	43,792
Total Assets	2,178,886	1,621,874
Debt, net	1,025,160	689,849
Accounts payable and accrued expenses	65,961	51,125
Deferred revenue	20,609	23,307
Lease deposits and other obligations to tenants	17,342	28,778
Total liabilities	1,129,072	793,059
Total Equity	1,049,814	828,815	899,576	671,575
Total Liabilities and Equity	2,178,886	1,621,874
Medical Properties Trust, Inc.
Condensed Financial Statements, Captions [Line Items]
Net intercompany receivable (payable)	27,393	21,955
Investment in subsidiaries	1,050,204	829,205
Total Assets	1,077,597	851,160
Accounts payable and accrued expenses	27,783	22,345
Total liabilities	27,783	22,345
Total Equity	1,049,814	828,815
Total Liabilities and Equity	1,077,597	851,160
Subsidiary Issuers
Condensed Financial Statements, Captions [Line Items]
Land, buildings and improvements and intangible lease assets	28	37
Gross investment in real estate assets	28	37
Net investment in real estate assets	28	37
Cash and cash equivalents	35,483	101,230	96,822	14,813
Interest and rent receivables	212	399
Other loans	177	178
Net intercompany receivable (payable)	1,373,941	872,380
Investment in subsidiaries	647,029	489,858
Other assets	31,097	27,285
Total Assets	2,087,967	1,491,367
Debt, net	1,010,962	635,820
Accounts payable and accrued expenses	26,658	25,783
Deferred revenue	143	559
Total liabilities	1,037,763	662,162
Total Equity	1,050,204	829,205
Total Liabilities and Equity	2,087,967	1,491,367
Subsidiary Guarantors
Condensed Financial Statements, Captions [Line Items]
Land, buildings and improvements and intangible lease assets	1,214,740	1,139,073
Net investment in direct financing leases	110,155
Real estate held for sale		4,240
Mortgage loans	268,650	165,000
Gross investment in real estate assets	1,593,545	1,308,313
Accumulated depreciation and amortization	(120,282)	(88,438)
Net investment in real estate assets	1,473,263	1,219,875
Cash and cash equivalents	1,565	1,409	1,387	454
Interest and rent receivables	29,315	22,528
Straight-line rent receivables	29,314	22,813
Other loans		5,491
Net intercompany receivable (payable)	(1,010,400)	(847,921)
Investment in subsidiaries	42,666	43,008
Other assets	1,522	2,151
Total Assets	567,245	469,354
Debt, net		39,600
Accounts payable and accrued expenses	10,492	2,578
Deferred revenue	19,643	21,100
Lease deposits and other obligations to tenants	16,607	26,400
Total liabilities	46,742	89,678
Total Equity	520,503	379,676
Total Liabilities and Equity	567,245	469,354
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Land, buildings and improvements and intangible lease assets	65,947	65,947
Net investment in direct financing leases	204,257
Real estate held for sale		55,553
Mortgage loans	100,000
Gross investment in real estate assets	370,204	121,500
Accumulated depreciation and amortization	(6,452)	(4,750)
Net investment in real estate assets	363,752	116,750
Cash and cash equivalents	263	87	199	40
Interest and rent receivables	15,762	6,935
Straight-line rent receivables	6,546	11,180
Other loans	159,066	69,170
Net intercompany receivable (payable)	(390,934)	(46,414)
Other assets	31,521	14,356
Total Assets	185,976	172,064
Debt, net	14,198	14,429
Accounts payable and accrued expenses	1,028	419
Deferred revenue	823	1,648
Lease deposits and other obligations to tenants	735	2,378
Total liabilities	16,784	18,874
Total Equity	169,192	153,190
Total Liabilities and Equity	185,976	172,064
Eliminations
Condensed Financial Statements, Captions [Line Items]
Investment in subsidiaries	(1,739,899)	(1,362,071)
Total Assets	(1,739,899)	(1,362,071)
Total Equity	(1,739,899)	(1,362,071)
Total Liabilities and Equity	(1,739,899)	(1,362,071)
Total Consolidated
Condensed Financial Statements, Captions [Line Items]
Land, buildings and improvements and intangible lease assets	1,280,715	1,205,057
Net investment in direct financing leases	314,412
Real estate held for sale		59,793
Mortgage loans	368,650	165,000
Gross investment in real estate assets	1,963,777	1,429,850
Accumulated depreciation and amortization	(126,734)	(93,188)
Net investment in real estate assets	1,837,043	1,336,662
Cash and cash equivalents	37,311	102,726	$ 98,408	$ 15,307
Interest and rent receivables	45,289	29,862
Straight-line rent receivables	35,860	33,993
Other loans	159,243	74,839
Other assets	64,140	43,792
Total Assets	2,178,886	1,621,874
Debt, net	1,025,160	689,849
Accounts payable and accrued expenses	65,961	51,125
Deferred revenue	20,609	23,307
Lease deposits and other obligations to tenants	17,342	28,778
Total liabilities	1,129,072	793,059
Total Equity	1,049,814	828,815
Total Liabilities and Equity	$ 2,178,886	$ 1,621,874

Condensed Consolidated Statements of Income (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Revenues
Rent billed									$ 123,080	$ 108,735	$ 80,270
Straight-line rent									7,982	5,379	1,165
Income from direct financing leases									21,728
Interest and fee income									48,607	21,370	26,589
Total revenues	$ 57,407	$ 53,315	$ 49,408	$ 41,267	$ 34,417	$ 34,282	$ 34,776	$ 32,009	201,397	135,484	108,024
Expenses
Real estate depreciation and amortization									33,545	30,896	20,897
Impairment charge											12,000
Property-related									1,495	738	4,381
Acquisition expenses									5,420	4,184	2,026
General and administrative									28,582	27,219	26,509
Total operating expenses									69,042	63,037	65,813
Operating income									132,355	72,447	42,211
Other income (expense)
Interest and other (expense) income									(1,662)	18	1,473
Earnings from equity and other interests									2,943	78	45
Debt refinancing costs										(14,214)	(6,716)
Interest expense									(58,243)	(43,810)	(33,984)
Net other expense									(56,962)	(57,928)	(39,182)
Income (loss) from continuing operations	23,894	23,221	19,358	8,920	6,296	(2,170)	2,559	7,834	75,393	14,519	3,029
Income (loss) from discontinued operations	4,709	8,287	2	1,686	6,444	2,638	123	2,990	14,684	12,195	19,983
Net income	28,603	31,508	19,360	10,606	12,740	468	2,682	10,824	90,077	26,714	23,012
Net income (loss) attributable to non-controlling interests									(177)	(178)	(99)
Net income attributable to MPT common stockholders	$ 28,556	$ 31,464	$ 19,316	$ 10,564	$ 12,692	$ 424	$ 2,640	$ 10,780	89,900	26,536	22,913
Medical Properties Trust, Inc.
Expenses
General and administrative										17	75
Total operating expenses										17	75
Operating income										(17)	(75)
Other income (expense)
Income (loss) from continuing operations										(17)	(75)
Equity in earnings of consolidated subsidiaries net of income taxes									90,077	26,731	23,087
Net income									90,077	26,714	23,012
Net income (loss) attributable to non-controlling interests									(177)	(178)	(99)
Net income attributable to MPT common stockholders									89,900	26,536	22,913
Subsidiary Issuers
Revenues
Interest and fee income									18,341	6,124	6,964
Total revenues									18,341	6,124	6,964
Expenses
Property-related									495	217	(4)
Acquisition expenses									5,420	3,713	2,026
General and administrative									26,018	23,914	25,841
Total operating expenses									31,933	27,844	27,863
Operating income									(13,592)	(21,720)	(20,899)
Other income (expense)
Interest and other (expense) income									(69)	26	(14)
Debt refinancing costs										(14,109)	(6,716)
Interest expense									(58,729)	(43,063)	(33,623)
Net other expense									(58,798)	(57,146)	(40,353)
Income (loss) from continuing operations									(72,390)	(78,866)	(61,252)
Equity in earnings of consolidated subsidiaries net of income taxes									162,467	105,597	84,339
Net income									90,077	26,731	23,087
Net income (loss) attributable to non-controlling interests									(177)	(178)	(99)
Net income attributable to MPT common stockholders									89,900	26,553	22,988
Subsidiary Guarantors
Revenues
Rent billed									115,770	102,541	74,281
Straight-line rent									6,500	3,617	131
Income from direct financing leases									19,870
Interest and fee income									29,610	17,556	17,225
Total revenues									171,750	123,714	91,637
Expenses
Real estate depreciation and amortization									31,845	29,238	19,282
Property-related									834	472	4,375
Total operating expenses									32,679	29,710	23,657
Operating income									139,071	94,004	67,980
Other income (expense)
Interest and other (expense) income										2	3
Earnings from equity and other interests									1,061	345
Debt refinancing costs										(105)
Interest expense									1,408	139	(358)
Net other expense									2,469	381	(355)
Income (loss) from continuing operations									141,540	94,385	67,625
Income (loss) from discontinued operations									102	(1,970)	896
Equity in earnings of consolidated subsidiaries net of income taxes									4,481	4,578	4,273
Net income									146,123	96,993	72,794
Net income attributable to MPT common stockholders									146,123	96,993	72,794
Non-Guarantor Subsidiaries
Revenues
Rent billed									16,619	9,286	7,019
Straight-line rent									1,482	1,762	1,034
Income from direct financing leases									18,090
Interest and fee income									25,387	3,926	9,914
Total revenues									61,578	14,974	17,967
Expenses
Real estate depreciation and amortization									1,700	1,658	1,615
Impairment charge											12,000
Property-related									25,707	3,141	1,040
Acquisition expenses										471
General and administrative									2,564	3,288	593
Total operating expenses									29,971	8,558	15,248
Operating income									31,607	6,416	2,719
Other income (expense)
Interest and other (expense) income									(1,593)	(10)	1,484
Earnings from equity and other interests									1,882	(267)	45
Interest expense									(25,653)	(7,122)	(7,517)
Net other expense									(25,364)	(7,399)	(5,988)
Income (loss) from continuing operations									6,243	(983)	(3,269)
Income (loss) from discontinued operations									14,582	14,165	19,087
Net income									20,825	13,182	15,818
Net income attributable to MPT common stockholders									20,825	13,182	15,818
Eliminations
Revenues
Rent billed									(9,309)	(3,092)	(1,030)
Income from direct financing leases									(16,232)
Interest and fee income									(24,731)	(6,236)	(7,514)
Total revenues									(50,272)	(9,328)	(8,544)
Expenses
Property-related									(25,541)	(3,092)	(1,030)
Total operating expenses									(25,541)	(3,092)	(1,030)
Operating income									(24,731)	(6,236)	(7,514)
Other income (expense)
Interest expense									24,731	6,236	7,514
Net other expense									24,731	6,236	7,514
Equity in earnings of consolidated subsidiaries net of income taxes									(257,025)	(136,906)	(111,699)
Net income									(257,025)	(136,906)	(111,699)
Net income (loss) attributable to non-controlling interests									177	178	99
Net income attributable to MPT common stockholders									(256,848)	(136,728)	(111,600)
Total Consolidated
Revenues
Rent billed									123,080	108,735	80,270
Straight-line rent									7,982	5,379	1,165
Income from direct financing leases									21,728
Interest and fee income									48,607	21,370	26,589
Total revenues									201,397	135,484	108,024
Expenses
Real estate depreciation and amortization									33,545	30,896	20,897
Impairment charge											12,000
Property-related									1,495	738	4,381
Acquisition expenses									5,420	4,184	2,026
General and administrative									28,582	27,219	26,509
Total operating expenses									69,042	63,037	65,813
Operating income									132,355	72,447	42,211
Other income (expense)
Interest and other (expense) income									(1,662)	18	1,473
Earnings from equity and other interests									2,943	78	45
Debt refinancing costs										(14,214)	(6,716)
Interest expense									(58,243)	(43,810)	(33,984)
Net other expense									(56,962)	(57,928)	(39,182)
Income (loss) from continuing operations									75,393	14,519	3,029
Income (loss) from discontinued operations									14,684	12,195	19,983
Net income									90,077	26,714	23,012
Net income (loss) attributable to non-controlling interests									(177)	(178)	(99)
Net income attributable to MPT common stockholders									$ 89,900	$ 26,536	$ 22,913

Condensed Consolidated Statements of Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2011	Sep. 30, 2011	Jun. 30, 2011	Mar. 31, 2011	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Comprehensive Income (Loss) [Line Items]
Net income	$ 28,603	$ 31,508	$ 19,360	$ 10,606	$ 12,740	$ 468	$ 2,682	$ 10,824	$ 90,077	$ 26,714	$ 23,012
Other comprehensive income:
Unrealized loss on interest rate swap									(251)	(8,590)	(3,641)
Total comprehensive income									89,826	18,124	19,371
Comprehensive income attributable to non-controlling interests									(177)	(178)	(99)
Comprehensive income attributable to MPT common stockholders									89,649	17,946	19,272
Medical Properties Trust, Inc.
Comprehensive Income (Loss) [Line Items]
Net income									90,077	26,714	23,012
Other comprehensive income:
Unrealized loss on interest rate swap									(251)	(8,590)	(3,641)
Total comprehensive income									89,826	18,124	19,371
Comprehensive income attributable to non-controlling interests									(177)	(178)	(99)
Comprehensive income attributable to MPT common stockholders									89,649	17,946	19,272
Subsidiary Issuers
Comprehensive Income (Loss) [Line Items]
Net income									90,077	26,731	23,087
Other comprehensive income:
Unrealized loss on interest rate swap									(251)	(8,590)	(3,641)
Total comprehensive income									89,826	18,141	19,446
Comprehensive income attributable to non-controlling interests									(177)	(178)	(99)
Comprehensive income attributable to MPT common stockholders									89,649	17,963	19,347
Subsidiary Guarantors
Comprehensive Income (Loss) [Line Items]
Net income									146,123	96,993	72,794
Other comprehensive income:
Total comprehensive income									146,123	96,993	72,794
Comprehensive income attributable to MPT common stockholders									146,123	96,993	72,794
Non-Guarantor Subsidiaries
Comprehensive Income (Loss) [Line Items]
Net income									20,825	13,182	15,818
Other comprehensive income:
Total comprehensive income									20,825	13,182	15,818
Comprehensive income attributable to MPT common stockholders									20,825	13,182	15,818
Eliminations
Comprehensive Income (Loss) [Line Items]
Net income									(257,025)	(136,906)	(111,699)
Other comprehensive income:
Unrealized loss on interest rate swap									251	8,590	3,641
Total comprehensive income									(256,774)	(128,316)	(108,058)
Comprehensive income attributable to non-controlling interests									177	178	99
Comprehensive income attributable to MPT common stockholders									(256,597)	(128,138)	(107,959)
Total Consolidated
Comprehensive Income (Loss) [Line Items]
Net income									90,077	26,714	23,012
Other comprehensive income:
Unrealized loss on interest rate swap									(251)	(8,590)	(3,641)
Total comprehensive income									89,826	18,124	19,371
Comprehensive income attributable to non-controlling interests									(177)	(178)	(99)
Comprehensive income attributable to MPT common stockholders									$ 89,649	$ 17,946	$ 19,272

Condensed Consolidated Statements of Cash Flows (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Operating Activities
Net cash provided by (used in) operating activities	$ 105,309	$ 79,270	$ 60,637
Investing activities
Principal received on loans receivable	10,931	4,289	90,486
Investments in loans receivable	(1,293)	(861)	(11,637)
Net cash (used for) provided by investing activities	(617,128)	(265,621)	22,781
Financing activities
Additions to term debt	300,000	450,000	148,500
Payments of term debt	(232)	(246,262)	(216,765)
Revolving credit facilities, net	35,400	89,600	(137,200)
Distributions paid	(103,952)	(89,601)	(77,087)
Lease deposits and other obligations to tenants	(11,436)	8,621	3,667
Proceeds from sale of common shares/units, net of offering costs	233,048		288,066
Debt issuance costs paid and other financing activities	(177)	(6,235)	(2,702)
Net cash provided by (used in) financing activities	446,404	190,669	(317)
Increase (decrease) in cash and cash equivalents for period	(65,415)	4,318	83,101
Cash and cash equivalents at beginning of period	102,726	98,408	15,307
Cash and cash equivalents at end of period	37,311	102,726	98,408
Medical Properties Trust, Inc.
Operating Activities
Net cash provided by (used in) operating activities	57	(209)	(29)
Investing activities
Investments in and advances to subsidiaries	(129,421)	89,551	(211,181)
Net cash (used for) provided by investing activities	(129,421)	89,551	(211,181)
Financing activities
Distributions paid	(103,684)	(89,342)	(76,856)
Proceeds from sale of common shares/units, net of offering costs	233,048		288,066
Net cash provided by (used in) financing activities	129,364	(89,342)	211,210
Subsidiary Issuers
Operating Activities
Net cash provided by (used in) operating activities	(61,002)	(48,779)	(54,908)
Investing activities
Investments in and advances to subsidiaries	(501,839)	(92,052)	99,564
Construction in progress and other	(578)	(6,466)	(108)
Net cash (used for) provided by investing activities	(502,417)	(98,518)	99,456
Financing activities
Additions to term debt	300,000	450,000	148,500
Payments of term debt		(237,666)	(216,520)
Revolving credit facilities, net	75,000	50,000	(96,000)
Distributions paid	(103,952)	(89,601)	(77,087)
Proceeds from sale of common shares/units, net of offering costs	233,048		288,066
Debt issuance costs paid and other financing activities	(6,424)	(21,028)	(9,498)
Net cash provided by (used in) financing activities	497,672	151,705	37,461
Increase (decrease) in cash and cash equivalents for period	(65,747)	4,408	82,009
Cash and cash equivalents at beginning of period	101,230	96,822	14,813
Cash and cash equivalents at end of period	35,483	101,230	96,822
Subsidiary Guarantors
Operating Activities
Net cash provided by (used in) operating activities	168,650	81,173	92,121
Investing activities
Cash paid for acquisitions and other related investments	(420,500)	(241,626)	(137,808)
Net proceeds from sales of real estate			2,669
Principal received on loans receivable	5,491	230
Investments in and advances to subsidiaries	362,494	142,448	94,218
Investments in loans receivable		(230)	(5,000)
Construction in progress and other	(66,467)	(24,081)	(7,281)
Net cash (used for) provided by investing activities	(118,982)	(123,259)	(53,202)
Financing activities
Payments of term debt		(8,433)	(245)
Revolving credit facilities, net	(39,600)	39,600	(41,200)
Lease deposits and other obligations to tenants	(9,912)	10,941	3,459
Net cash provided by (used in) financing activities	(49,512)	42,108	(37,986)
Increase (decrease) in cash and cash equivalents for period	156	22	933
Cash and cash equivalents at beginning of period	1,409	1,387	454
Cash and cash equivalents at end of period	1,565	1,409	1,387
Non-Guarantor Subsidiaries
Operating Activities
Net cash provided by (used in) operating activities	(2,396)	47,085	23,453
Investing activities
Cash paid for acquisitions and other related investments	(200,990)	(37,337)
Net proceeds from sales of real estate	71,202	41,130	95,000
Principal received on loans receivable	5,440	4,059	90,486
Investments in and advances to subsidiaries	139,402	(50,605)	(193,811)
Investments in loans receivable	(1,293)	(631)	(6,637)
Construction in progress and other	(9,433)	(669)	(8,540)
Net cash (used for) provided by investing activities	4,328	(44,053)	(23,502)
Financing activities
Payments of term debt	(232)	(163)
Lease deposits and other obligations to tenants	(1,524)	(2,320)	208
Debt issuance costs paid and other financing activities		(661)
Net cash provided by (used in) financing activities	(1,756)	(3,144)	208
Increase (decrease) in cash and cash equivalents for period	176	(112)	159
Cash and cash equivalents at beginning of period	87	199	40
Cash and cash equivalents at end of period	263	87	199
Eliminations
Investing activities
Investments in and advances to subsidiaries	129,364	(89,342)	211,210
Net cash (used for) provided by investing activities	129,364	(89,342)	211,210
Financing activities
Distributions paid	103,684	89,342	76,856
Proceeds from sale of common shares/units, net of offering costs	(233,048)		(288,066)
Net cash provided by (used in) financing activities	(129,364)	89,342	(211,210)
Total Consolidated
Operating Activities
Net cash provided by (used in) operating activities	105,309	79,270	60,637
Investing activities
Cash paid for acquisitions and other related investments	(621,490)	(278,963)	(137,808)
Net proceeds from sales of real estate	71,202	41,130	97,669
Principal received on loans receivable	10,931	4,289	90,486
Investments in loans receivable	(1,293)	(861)	(11,637)
Construction in progress and other	(76,478)	(31,216)	(15,929)
Net cash (used for) provided by investing activities	(617,128)	(265,621)	22,781
Financing activities
Additions to term debt	300,000	450,000	148,500
Payments of term debt	(232)	(246,262)	(216,765)
Revolving credit facilities, net	35,400	89,600	(137,200)
Distributions paid	(103,952)	(89,601)	(77,087)
Lease deposits and other obligations to tenants	(11,436)	8,621	3,667
Proceeds from sale of common shares/units, net of offering costs	233,048		288,066
Debt issuance costs paid and other financing activities	(6,424)	(21,689)	(9,498)
Net cash provided by (used in) financing activities	446,404	190,669	(317)
Increase (decrease) in cash and cash equivalents for period	(65,415)	4,318	83,101
Cash and cash equivalents at beginning of period	102,726	98,408	15,307
Cash and cash equivalents at end of period	$ 37,311	$ 102,726	$ 98,408

Schedule of Valuation and Qualifying Accounts (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Balance at Beginning of Year

^[1]

$ 32,618

$ 23,926

$ 4,339

Additions charged against operations

^[1]

4,540

^[2]

8,692

^[2]

22,245

^[3]

Net recoveries

^[1]

(2,389)

(2,658)

Balance at end of year

^[1]

$ 34,769

$ 32,618

$ 23,926

[1]	Includes allowance for doubtful accounts, straight-line rent reserves, allowance for loan losses, tax valuation allowances and other reserves.
[2]	Includes $3.7 million and $2.9 million in rent and interest reserves, respectively, related to our Denham Springs and Monroe properties and $2.1 million to fully reserve for the net deferred tax asset of one of our taxable REIT subsidiaries.
[3]	Includes $12 million loan loss reserve related to our Monroe property and a $6.5 million increase in valuation allowances to fully reserve for the net deferred tax asset of one of our taxable REIT subsidiaries.

Schedule of Valuation and Qualifying Accounts (Parenthetical) (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2012 USD ($)
Increase in valuation allowances	$ 6.5
Monroe Property
Allowance for loan and lease losses	12.0
Rent reserves	1.6
Interest reserves	2.9
Denham Springs, LA
Rent reserves	3.7
Interest reserves	2.9
Full reserve for net deferred tax asset	$ 2.1

- Definition

Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from deferred rent.

+ References + Details

- Definition

Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences from other reserves not separately disclosed.

+ References + Details

Schedule of Real Estate Investments and Accumulated Depreciation (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

^[2]

Dec. 31, 2009

Real Estate and Accumulated Depreciation [Line Items]

Initial costs, land

$ 107,321

Initial costs, buildings

1,056,202

Additions subsequent to acquisition, improvements

399

Additions subsequent to acquisition, carrying costs

25,630

land at cost

^[1]

110,364

Buildings at cost

^[1]

1,079,188

Total at cost

1,189,552

^[1]

$ 1,191,096

^[2]

$ 990,635

$ 934,601

Accumulated depreciation

$ 114,399

$ 84,466

Covington, LA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 821

Initial costs, buildings

10,238

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

821

Buildings at cost

^[1]

10,252

Total at cost

^[1]

11,073

Accumulated depreciation

$ 1,944

Date of construction

1984

Date acquired

Jun. 09, 2005

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Redding, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, buildings

$ 19,952

Additions subsequent to acquisition, carrying costs

4,361

land at cost

^[1]

1,629

Buildings at cost

^[1]

22,684

Total at cost

^[1]

24,313

Accumulated depreciation

$ 4,054

Date of construction

1991

Date acquired

Jun. 30, 2005

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Bloomington, IN

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 2,457

Initial costs, buildings

31,209

Additions subsequent to acquisition, carrying costs

408

land at cost

^[1]

2,576

Buildings at cost

^[1]

31,498

Total at cost

^[1]

34,074

Accumulated depreciation

$ 5,012

Date of construction

2006

Date acquired

Aug. 08, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Dallas, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 1,000

Initial costs, buildings

13,589

Additions subsequent to acquisition, carrying costs

368

land at cost

^[1]

1,421

Buildings at cost

^[1]

13,536

Total at cost

^[1]

14,957

Accumulated depreciation

$ 2,143

Date of construction

2006

Date acquired

Sep. 05, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

La Palma, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 937

Initial costs, buildings

10,907

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

937

Buildings at cost

^[1]

10,910

Total at cost

^[1]

11,847

Accumulated depreciation

$ 1,682

Date of construction

1971

Date acquired

Nov. 08, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Anaheim, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 1,875

Initial costs, buildings

21,814

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

1,875

Buildings at cost

^[1]

21,824

Total at cost

^[1]

23,699

Accumulated depreciation

$ 3,364

Date of construction

1964

Date acquired

Nov. 08, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Luling, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 811

Initial costs, buildings

9,345

land at cost

^[1]

811

Buildings at cost

^[1]

9,345

Total at cost

^[1]

10,156

Accumulated depreciation

$ 1,421

Date of construction

2002

Date acquired

Dec. 01, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

San Antonio, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, buildings

$ 10,198

Buildings at cost

^[1]

10,198

Total at cost

^[1]

10,198

Accumulated depreciation

$ 1,551

Date of construction

1987

Date acquired

Dec. 01, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Victoria, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 625

Initial costs, buildings

7,197

land at cost

^[1]

625

Buildings at cost

^[1]

7,197

Total at cost

^[1]

7,822

Accumulated depreciation

$ 1,095

Date of construction

1998

Date acquired

Dec. 01, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Houston, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 4,757

Initial costs, buildings

56,238

Additions subsequent to acquisition, carrying costs

1,259

land at cost

^[1]

5,464

Buildings at cost

^[1]

56,790

Total at cost

^[1]

62,254

Accumulated depreciation

$ 8,585

Date of construction

2006

Date acquired

Dec. 01, 2006

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Bensalem, PA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 6,911

Initial costs, buildings

38,185

Additions subsequent to acquisition, carrying costs

(353)

land at cost

^[1]

6,911

Buildings at cost

^[1]

37,832

Total at cost

^[1]

44,743

Accumulated depreciation

$ 5,625

Date of construction

2006

Date acquired

Mar. 19, 2007

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Portland, OR

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 3,085

Initial costs, buildings

17,859

Additions subsequent to acquisition, carrying costs

2,559

land at cost

^[1]

3,071

Buildings at cost

^[1]

20,432

Total at cost

^[1]

23,503

Accumulated depreciation

$ 2,842

Date of construction

1964

Date acquired

Apr. 18, 2007

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

San Diego, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 6,550

Initial costs, buildings

15,653

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

6,550

Buildings at cost

^[1]

15,730

Total at cost

^[1]

22,280

Accumulated depreciation

$ 2,226

Date of construction

1964

Date acquired

May 09, 2007

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Redding, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 1,555

Initial costs, buildings

53,863

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

1,555

Buildings at cost

^[1]

53,876

Total at cost

^[1]

55,431

Accumulated depreciation

$ 7,306

Date of construction

1974

Date acquired

Aug. 10, 2007

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Houston, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 3,501

Initial costs, buildings

34,530

Additions subsequent to acquisition, carrying costs

12,468

land at cost

^[1]

3,274

Buildings at cost

^[1]

47,225

Total at cost

^[1]

50,499

Accumulated depreciation

$ 3,680

Date of construction

1960

Date acquired

Aug. 10, 2007

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Bennettsville, SC

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 794

Initial costs, buildings

15,772

land at cost

^[1]

794

Buildings at cost

^[1]

15,772

Total at cost

^[1]

16,566

Accumulated depreciation

$ 1,873

Date of construction

1984

Date acquired

Apr. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Bossier City, LA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 900

Initial costs, buildings

17,818

land at cost

^[1]

900

Buildings at cost

^[1]

17,818

Total at cost

^[1]

18,718

Accumulated depreciation

$ 2,113

Date of construction

1982

Date acquired

Apr. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Bristol, CT

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Wellness Center

Initial costs, land

$ 485

Initial costs, buildings

2,267

land at cost

^[1]

485

Buildings at cost

^[1]

2,267

Total at cost

^[1]

2,752

Accumulated depreciation

$ 840

Date of construction

1975

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

10 years

Cheraw, SC

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 657

Initial costs, buildings

19,576

land at cost

^[1]

657

Buildings at cost

^[1]

19,576

Total at cost

^[1]

20,233

Accumulated depreciation

$ 2,324

Date of construction

1982

Date acquired

Apr. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Detroit, MI

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 1,220

Initial costs, buildings

8,687

Additions subsequent to acquisition, carrying costs

(365)

land at cost

^[1]

1,220

Buildings at cost

^[1]

8,322

Total at cost

^[1]

9,542

Accumulated depreciation

$ 1,037

Date of construction

1956

Date acquired

May 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Enfield, CT

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Wellness Center

Initial costs, land

$ 384

Initial costs, buildings

2,257

land at cost

^[1]

384

Buildings at cost

^[1]

2,257

Total at cost

^[1]

2,641

Accumulated depreciation

$ 837

Date of construction

1974

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

10 years

Fort Lauderdale, FL

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, land

$ 3,499

Initial costs, buildings

21,939

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

3,499

Buildings at cost

^[1]

21,940

Total at cost

^[1]

25,439

Accumulated depreciation

$ 2,565

Date of construction

1985

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Garden Grove, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 5,502

Initial costs, buildings

10,748

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

5,502

Buildings at cost

^[1]

10,799

Total at cost

^[1]

16,301

Accumulated depreciation

$ 1,115

Date of construction

1982

Date acquired

Nov. 25, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Garden Grove, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Medical Office Building

Initial costs, land

$ 862

Initial costs, buildings

7,888

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

862

Buildings at cost

^[1]

7,916

Total at cost

^[1]

8,778

Accumulated depreciation

$ 810

Date of construction

1982

Date acquired

Nov. 25, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Idaho Falls, ID

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 1,822

Initial costs, buildings

37,467

Additions subsequent to acquisition, carrying costs

4,665

land at cost

^[1]

1,822

Buildings at cost

^[1]

42,132

Total at cost

^[1]

43,954

Accumulated depreciation

$ 4,856

Date of construction

2002

Date acquired

Apr. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Newington, CT

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Wellness Center

Initial costs, land

$ 270

Initial costs, buildings

1,615

land at cost

^[1]

270

Buildings at cost

^[1]

1,615

Total at cost

^[1]

1,885

Accumulated depreciation

$ 601

Date of construction

1979

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

10 years

Petersburg, VA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, land

$ 1,302

Initial costs, buildings

9,121

land at cost

^[1]

1,302

Buildings at cost

^[1]

9,121

Total at cost

^[1]

10,423

Accumulated depreciation

$ 1,026

Date of construction

2006

Date acquired

Jul. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

West Valley City, UT

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 5,516

Initial costs, buildings

58,314

land at cost

^[1]

5,516

Buildings at cost

^[1]

58,314

Total at cost

^[1]

63,830

Accumulated depreciation

$ 6,817

Date of construction

1980

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Poplar Bluff, MO

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 2,659

Initial costs, buildings

38,694

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

2,660

Buildings at cost

^[1]

38,694

Total at cost

^[1]

41,354

Accumulated depreciation

$ 4,523

Date of construction

1980

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

East Providence, RI

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Wellness Center

Initial costs, land

$ 209

Initial costs, buildings

1,265

land at cost

^[1]

209

Buildings at cost

^[1]

1,265

Total at cost

^[1]

1,474

Accumulated depreciation

$ 471

Date of construction

1979

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

10 years

San Dimas, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 6,160

Initial costs, buildings

6,839

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

6,160

Buildings at cost

^[1]

6,873

Total at cost

^[1]

13,033

Accumulated depreciation

$ 701

Date of construction

1972

Date acquired

Nov. 25, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

San Dimas, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Medical Office Building

Initial costs, land

$ 1,915

Initial costs, buildings

5,085

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

1,915

Buildings at cost

^[1]

5,103

Total at cost

^[1]

7,018

Accumulated depreciation

$ 522

Date of construction

1979

Date acquired

Nov. 25, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

West Springfield, MA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Wellness Center

Initial costs, land

$ 583

Initial costs, buildings

3,185

land at cost

^[1]

583

Buildings at cost

^[1]

3,185

Total at cost

^[1]

3,768

Accumulated depreciation

$ 1,186

Date of construction

1976

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

10 years

Tucson, AZ

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 920

Initial costs, buildings

6,078

land at cost

^[1]

920

Buildings at cost

^[1]

6,078

Total at cost

^[1]

6,998

Accumulated depreciation

$ 722

Date of construction

1987

Date acquired

Apr. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Warwick, RI

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Wellness Center

Initial costs, land

$ 1,265

Initial costs, buildings

759

land at cost

^[1]

1,265

Buildings at cost

^[1]

759

Total at cost

^[1]

2,024

Accumulated depreciation

$ 282

Date of construction

1979

Date acquired

Apr. 22, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

10 years

Webster, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 988

Initial costs, buildings

10,432

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

988

Buildings at cost

^[1]

10,433

Total at cost

^[1]

11,421

Accumulated depreciation

$ 1,239

Date of construction

1986

Date acquired

Apr. 01, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Wichita, KS

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, land

$ 1,019

Initial costs, buildings

18,373

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

1,019

Buildings at cost

^[1]

18,374

Total at cost

^[1]

19,393

Accumulated depreciation

$ 2,181

Date of construction

1992

Date acquired

Apr. 04, 2008

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Addison, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, land

$ 2,013

Initial costs, buildings

22,531

land at cost

^[1]

2,013

Buildings at cost

^[1]

22,531

Total at cost

^[1]

24,544

Accumulated depreciation

$ 1,408

Date of construction

2008

Date acquired

Jun. 17, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Shenandoah, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, land

$ 2,033

Initial costs, buildings

21,943

land at cost

^[1]

2,033

Buildings at cost

^[1]

21,943

Total at cost

^[1]

23,976

Accumulated depreciation

$ 1,371

Date of construction

2008

Date acquired

Jun. 17, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Richardson, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Rehabilitaion hospital

Initial costs, land

$ 2,219

Initial costs, buildings

17,419

land at cost

^[1]

2,219

Buildings at cost

^[1]

17,419

Total at cost

^[1]

19,638

Accumulated depreciation

$ 1,089

Date of construction

2008

Date acquired

Jun. 17, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Hill County, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 1,120

Initial costs, buildings

17,882

land at cost

^[1]

1,120

Buildings at cost

^[1]

17,882

Total at cost

^[1]

19,002

Accumulated depreciation

$ 2,697

Date of construction

1980

Date acquired

Sep. 17, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Webster, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 663

Initial costs, buildings

33,751

land at cost

^[1]

663

Buildings at cost

^[1]

33,751

Total at cost

^[1]

34,414

Accumulated depreciation

$ 1,688

Date of construction

2004

Date acquired

Dec. 21, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Tomball, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 1,298

Initial costs, buildings

23,982

land at cost

^[1]

1,298

Buildings at cost

^[1]

23,982

Total at cost

^[1]

25,280

Accumulated depreciation

$ 1,199

Date of construction

2005

Date acquired

Dec. 21, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Gilbert, AZ

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 150

Initial costs, buildings

15,553

land at cost

^[1]

150

Buildings at cost

^[1]

15,553

Total at cost

^[1]

15,703

Accumulated depreciation

$ 778

Date of construction

2005

Date acquired

Jan. 04, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Corinth, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 1,288

Initial costs, buildings

21,175

Additions subsequent to acquisition, improvements

313

land at cost

^[1]

1,601

Buildings at cost

^[1]

21,175

Total at cost

^[1]

22,776

Accumulated depreciation

$ 1,020

Date of construction

2008

Date acquired

Jan. 31, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Bayonne, NJ

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 2,003

Initial costs, buildings

51,495

land at cost

^[1]

2,003

Buildings at cost

^[1]

51,495

Total at cost

^[1]

53,498

Accumulated depreciation

$ 4,934

Date of construction

1918

Date acquired

Feb. 04, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

20 years

San Diego, CA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 12,663

Initial costs, buildings

52,431

land at cost

^[1]

12,663

Buildings at cost

^[1]

52,431

Total at cost

^[1]

65,094

Accumulated depreciation

$ 2,512

Date of construction

1973

Date acquired

Feb. 09, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Northland, MO

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 834

Initial costs, buildings

17,182

land at cost

^[1]

834

Buildings at cost

^[1]

17,182

Total at cost

^[1]

18,016

Accumulated depreciation

$ 824

Date of construction

2007

Date acquired

Feb. 14, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

DeSoto, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 1,067

Initial costs, buildings

10,701

Additions subsequent to acquisition, improvements

Additions subsequent to acquisition, carrying costs

land at cost

^[1]

1,161

Buildings at cost

^[1]

10,701

Total at cost

^[1]

11,862

Accumulated depreciation

$ 381

Date of construction

2008

Date acquired

Jul. 18, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

New Braunfels, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 1,100

Initial costs, buildings

7,883

land at cost

^[1]

1,100

Buildings at cost

^[1]

7,883

Total at cost

^[1]

8,983

Accumulated depreciation

$ 246

Date of construction

2007

Date acquired

Sep. 30, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Hoboken, NJ

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 1,387

Initial costs, buildings

44,351

land at cost

^[1]

1,387

Buildings at cost

^[1]

44,351

Total at cost

^[1]

45,738

Accumulated depreciation

$ 2,507

Date of construction

1863

Date acquired

Nov. 04, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

20 years

Florence, AZ

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 900

Initial costs, buildings

28,636

land at cost

^[1]

900

Buildings at cost

^[1]

28,636

Total at cost

^[1]

29,536

Accumulated depreciation

$ 524

Date of construction

2012

Date acquired

Nov. 04, 2010

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

Hammond, LA

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Long term acute care hospital

Initial costs, land

$ 519

Initial costs, buildings

8,941

land at cost

^[1]

519

Buildings at cost

^[1]

8,941

Total at cost

^[1]

9,460

Accumulated depreciation

$ 19

Date of construction

2003

Date acquired

Dec. 14, 2012

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

San Antonio, TX

Real Estate and Accumulated Depreciation [Line Items]

Type of property

Acute care general hospital

Initial costs, land

$ 2,248

Initial costs, buildings

5,390

land at cost

^[1]

2,248

Buildings at cost

^[1]

5,390

Total at cost

^[1]

7,638

Accumulated depreciation

$ 31

Date of construction

2012

Date acquired

Oct. 14, 2011

Life on which depreci- ation in latest income state- ments is computed (Years)

40 years

[1]	The aggregate cost for federal income tax purposes is $1,183,464.
[2]	Includes real estate cost included in real estate held for sale of $68,148 and $109,173 at December 31, 2011 and 2010, respectively. Excludes intangible lease assets that are included in real estate held for sale of $2,194 and $3,555 for 2011 and 2010, respectively.

Schedule of Real Estate Investments and Accumulated Depreciation (Parenthetical) (Detail) $ in Thousands	Dec. 31, 2012 USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Aggregate cost for federal income tax purposes	$ 1,183,464

Changes in Total Real Estate Assets Including Real Estate Held for Sale (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Real Estate and Accumulated Depreciation [Line Items]

Balance at beginning of period

$ 1,191,096

^[1]

$ 990,635

^[1]

$ 934,601

Acquisitions

9,460

240,474

146,854

Transfers from construction in progress

37,174

Additions

19,971

1,011

1,709

Dispositions

(68,149)

(40,460)

(92,529)

Other

(564)

Balance at end of period

$ 1,189,552

^[2]

$ 1,191,096

^[1]

$ 990,635

^[1]

[1]	Includes real estate cost included in real estate held for sale of $68,148 and $109,173 at December 31, 2011 and 2010, respectively. Excludes intangible lease assets that are included in real estate held for sale of $2,194 and $3,555 for 2011 and 2010, respectively.
[2]	The aggregate cost for federal income tax purposes is $1,183,464.

Changes in Total Real Estate Assets Including Real Estate Held for Sale (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Real Estate and Accumulated Depreciation [Line Items]
Real estate held for sale	$ 68,148	$ 109,173
Intangible lease assets held for sale	$ 2,194	$ 3,555

Changes in Accumulated Depreciation Including Real Estate Assets Held for Sale (Detail) - USD ($)
$ in Thousands

12 Months Ended

Dec. 31, 2012

Dec. 31, 2011

^[2]

Dec. 31, 2010

Real Estate and Accumulated Depreciation [Line Items]

Balance at beginning of period

$ 93,430

^[1],[2]

$ 68,662

^[1]

$ 51,638

Depreciation

31,026

29,523

22,664

Depreciation on disposed property

(10,057)

(4,755)

(5,640)

Balance at end of period

$ 114,399

$ 93,430

^[1]

$ 68,662

^[1],[2]

[1]	Includes accumulated depreciation in real estate held for sale of $8,964 and $10,910 for 2011 and 2010, respectively. Excludes accumulated amortization related to intangible lease assets that are included in real estate held for sale of $1,585 and $1,941 for 2011 and 2010, respectively.
[2]	Includes real estate cost included in real estate held for sale of $68,148 and $109,173 at December 31, 2011 and 2010, respectively. Excludes intangible lease assets that are included in real estate held for sale of $2,194 and $3,555 for 2011 and 2010, respectively.

Changes in Accumulated Depreciation Including Real Estate Assets Held for Sale (Parenthetical) (Detail) - USD ($) $ in Thousands	Dec. 31, 2011	Dec. 31, 2010
Real Estate and Accumulated Depreciation [Line Items]
Real estate held for sale	$ 68,148	$ 109,173
Intangible lease assets held for sale	2,194	3,555
Accumulated depreciation of real estate held for sale	8,964	10,910
Accumulated amortization of intangible lease assets	$ 1,585	$ 1,941

Schedule of Mortgage Loan on Real Estate (Detail) - Long-Term First Mortgage Loan
$ in Thousands

12 Months Ended

Dec. 31, 2012

USD ($)

Mortgage Loans on Real Estate [Line Items]

Periodic Payment Terms

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

Prior Liens

Face Amount of Mortgages

368,650

Carrying Amount of Mortgages

368,650

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

Desert Valley Hospital

Mortgage Loans on Real Estate [Line Items]

Interest rate

10.40%

Final Maturity Date

2022

Prior Liens

^[2]

Face Amount of Mortgages

70,000

Carrying Amount of Mortgages

70,000

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3]

Desert Valley Hospital

Mortgage Loans on Real Estate [Line Items]

Interest rate

11.20%

Final Maturity Date

2022

Prior Liens

^[2]

Face Amount of Mortgages

20,000

Carrying Amount of Mortgages

20,000

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3]

Chino Valley Medical Center

Mortgage Loans on Real Estate [Line Items]

Interest rate

10.40%

Final Maturity Date

2022

Prior Liens

^[2]

Face Amount of Mortgages

50,000

Carrying Amount of Mortgages

50,000

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3]

Paradise Valley Hospital

Mortgage Loans on Real Estate [Line Items]

Interest rate

10.10%

Final Maturity Date

2022

Prior Liens

^[2]

Face Amount of Mortgages

25,000

Carrying Amount of Mortgages

25,000

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3]

Ernest Mortgage Loan

Mortgage Loans on Real Estate [Line Items]

Interest rate

9.00%

^[4]

Final Maturity Date

2032

^[4]

Prior Liens

^[2],[4]

Face Amount of Mortgages

100,000

^[4]

Carrying Amount of Mortgages

100,000

^[1],[4]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3],[4]

Centinela Hospital Medical Center

Mortgage Loans on Real Estate [Line Items]

Interest rate

10.30%

Final Maturity Date

2022

Prior Liens

^[2]

Face Amount of Mortgages

100,000

Carrying Amount of Mortgages

100,000

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3]

Denham Springs LTACH

Mortgage Loans on Real Estate [Line Items]

Interest rate

5.00%

Final Maturity Date

2013

Prior Liens

^[2]

Face Amount of Mortgages

3,650

Carrying Amount of Mortgages

3,650

^[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

^[3]

[1]	The aggregate cost for Federal income tax purposes is $368,650.
[2]	There were no prior liens on loans as of December 31, 2012.
[3]	The mortgage loan was not delinquent with respect to principal or interest.
[4]	Mortgage loans on four properties.

Schedule of Mortgage Loan on Real Estate (Parenthetical) (Detail) $ in Thousands	Dec. 31, 2012 USD ($) Property
Mortgage Loans on Real Estate [Line Items]
Carrying amount of mortgages, federal income tax purposes \| $	$ 368,650
Ernest Mortgage Loan \| Long-Term First Mortgage Loan
Mortgage Loans on Real Estate [Line Items]
Number of properties \| Property	4

Changes in Mortgage Loans (Detail) - USD ($) $ in Thousands	12 Months Ended
Changes in Mortgage Loans (Detail) - USD ($) $ in Thousands	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Mortgage Loans on Real Estate [Line Items]
Balance at beginning of year	$ 165,000	$ 165,000	$ 200,164
New mortgage loans and additional advances on existing loans	203,650		7,836
Mortgage loans on real estate including additions during year	368,650	165,000	208,000
Collection of principal			(43,000)
Deductions during year			(43,000)
Balance at end of year	$ 368,650	$ 165,000	$ 165,000