[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] #  @AmaralPartners AMARAL Capital AMARAL Capital posts on X about $mpw, $700mm, $150mm, debt the most. They currently have XXX followers and XXX posts still getting attention that total XXXXX engagements in the last XX hours. ### Engagements: XXXXX [#](/creator/twitter::1896142355779948544/interactions)  - X Week XXXXXX +140% - X Month XXXXXX -XX% ### Mentions: XX [#](/creator/twitter::1896142355779948544/posts_active)  - X Month XX -XX% ### Followers: XXX [#](/creator/twitter::1896142355779948544/followers)  - X Week XXX +11% - X Month XXX +38% ### CreatorRank: XXXXXXX [#](/creator/twitter::1896142355779948544/influencer_rank)  ### Social Influence [#](/creator/twitter::1896142355779948544/influence) --- **Social category influence** [finance](/list/finance) [countries](/list/countries) **Social topic influence** [$mpw](/topic/$mpw) #1, [$700mm](/topic/$700mm) #1, [$150mm](/topic/$150mm), [debt](/topic/debt), [$40mm](/topic/$40mm) #1, [$23mm](/topic/$23mm), [investment](/topic/investment), [$asth](/topic/$asth), [money](/topic/money), [waterfall](/topic/waterfall) **Top assets mentioned** [Medical Properties Trust, Inc. (MPW)](/topic/$mpw) [Tenet Healthcare Corporation New (THC)](/topic/$thc) ### Top Social Posts [#](/creator/twitter::1896142355779948544/posts) --- Top posts by engagements in the last XX hours "@Steward Just a brief update on MPT's recoveries on PHPH. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943066936784388233) 2025-07-09 21:57:12 UTC XXX followers, XXX engagements "Good thing that Steve dba Matthew Hamner "Manager of Special Projects" and Senior Associate Larry Portal were on the case for Project Picasso out of the NYC office They were able to return .12% of MPT's gross investment in PMH before unpaid rent with that $2.3MM Speaking of unpaid rent + interest how much was there by the end of September 2022 $40MM Then tack on another $35MM or so in Q4:22 $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1944531836220100956) 2025-07-13 22:58:12 UTC XXX followers, XXX engagements ""MPT was here." $MPW Everywhere Fingerprints all over it. All of the money came from MPT in these transactions. An effective "equity sponsor" to a bunch of scumbags looting an insolvent hospital system MPT pulling out money and doing plenty of looting itself. And mgmt lying about it along the way. 2016 - insolvent 2018-2019 - insolvent (w/ Steward itself showing negative equity value internally) 2020 - insolvent recapped by its "landlord" 2021 - insolvent w/ Hamner noting RDLT "free at last. to tkae a well-deserved distribution" funded by MPT. 2022 - more deeply insolvent MPT despite being a"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945410424381595776) 2025-07-16 09:09:23 UTC XXX followers, XXX engagements "MPT took a XXXX% loss on this position the valuation of which XX months ago was highlighted as a critical audit matter along with Steward OpCo investments by @PwC . All a total loss. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945516169214959921) 2025-07-16 16:09:35 UTC XXX followers, XXX engagements "Two of the Steward ML1 replacement quality operators have already failed financially accounting for the vast majority of former ML1 book value to MPT. Insight in Ohio. HSA (who are they again Dont recall them) defaulted on a loan agreement with Bear Creek. Which means MPT is again propping up large insolvent tenants. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1946176293663605131) 2025-07-18 11:52:41 UTC XXX followers, XXX engagements "And there we have it MPT got $2.3MM and then perhaps the residual $1.5MM from the sale of PHP to $ASTH. Had been written up to $700MM as of 31/12/23. "Validated" $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942757328652230979) 2025-07-09 01:26:56 UTC XXX followers, 1633 engagements "MPTs management team KNOWS how bad their liquidity situation is. Thats why they had Goldman tell the new bond investors that they needed to recap with equity. Thats why they just had Goldman call around to soft gauge interest. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943615532629893274) 2025-07-11 10:17:08 UTC XXX followers, XXX engagements ""MPT was here." $MPW MPT knowingly and willingly funded and facilitated a fraudulent extraction of wealth from @Steward. CFO Steve Hamner knew in late-December that the $335MM MPT takeout of the Cerberus convert was intended to allow RDLT to be "free at last. to take a well-deserved distribution" of $111MM. MPT counsel warned MPT that RDLT was trying to circumvent SHCS board approval MPT funded the Cerberus convert take-out on 8/1/21 regardless. Distribution declared one day later MPT then told investors SHCS has "a tremendous liquidity and equity value" coming out of the COVID year of 2020"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945799141637964126) 2025-07-17 10:54:01 UTC XXX followers, 1618 engagements "Ask yourself "is this 👇 what a passive net lease landlord does or should be going" And then the more interesting question "why were they doing it" $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945823299092488528) 2025-07-17 12:30:00 UTC XXX followers, XXX engagements "@BonesJordann @Steward The MPT $700MM+ PHPH convert was impaired and appears to have received just $2.3MM of value through the "confidential waterfall" from the $ASTH sale. That convert does not represent a claim in the BK nor does it receive value from the settlement waterfall. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943097077099032839) 2025-07-09 23:56:58 UTC XXX followers, XXX engagements "MPT hasn't generated positive FCF as a purported "triple-net" REIT () in. *checks notes.* FOREVER. NEVER. Not a single quarter since at least 2010. Pre- during and post-Steward. Find another net lease landlord that does that You can't. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1944903628394815526) 2025-07-14 23:35:34 UTC XXX followers, XXX engagements "5.8/x XX% of MPT's current balance sheet which MPT mgmt continuously tries to gaslight about being now "better" is in BK or default if you include Insight and Vibra. XX% from Prospect and HSA alone. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1946279254662279678) 2025-07-18 18:41:49 UTC XXX followers, XXX engagements "For those keeping score at home this is now a $1.1BN loss (so far) on a total $1.8BN gross investment by MPT into PMH. That is XX% thus far with more likely coming. For "net leased" real estate. On top of the Steward debacle. "The strength of our underwriting." $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942770676475076684) 2025-07-09 02:19:58 UTC XXX followers, XXX engagements "MPT needs money to meet its funding obligations and newsflash Tt cannot come from debt. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943415779623334301) 2025-07-10 21:03:23 UTC XXX followers, XXX engagements "If the "sales processes are going great so many bidders nearly a billion coming to Prospect/MPT from CA + CT CA market is amazing" And Prospect just received $67.05MM from $ASTH applied first to the $90MM DIP ABL facility in the waterfall. . then why is the Debtor upsizing the JMB DIP by $30MM and why does it include moving the deadline for stalking horse bids back to 15/8/25 Sounds a lot like the Steward process How did that go It's all nonsense including from the court hearing a couple weeks back. Look at the numbers they tell the story Who in their right mind would enter into these lease"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942534248654577673) 2025-07-08 10:40:30 UTC XXX followers, XXX engagements "2/x - MPT's FCF ( - ) & Does Not "Cover" Existing Dividend - OCF was nearly zero in Q1:25 - MPT burned nearly $100MM in the quarter before WC and dividends - We estimate $100MM of tenant support + other "CAPX" spending in the quarter w/ no new WC loans repaid - "Burn" worse once reflecting full quarter of new higher interest cost (est. $125MM/qtr.) - Even including new ML1 "rent" which will require more tenant support FCF still ( - ) and - Given that MPT cannot afford the dividend today with low-growth cash flow a higher share count post-raise will assuredly require another dividend cut. The"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1932954737156161674) 2025-06-12 00:14:56 UTC XXX followers, XXX engagements "Court approved $30MM JMB DIP upsize with likely add'l $25MM later. MPT primed by another $30MM immediately through waterfall likely more later as all parties repeatedly state $30MM not sufficient and needs more to get through sale milestone dates. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943074275084173446) 2025-07-09 22:26:22 UTC XXX followers, 1385 engagements "Of course no mention by MPT last month of pledging equity in JV Another way to buy face rate down and not just pure first mortgage on RE. JV equity pledge a cost. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1944833639310876737) 2025-07-14 18:57:27 UTC XXX followers, XXX engagements "The PHPH waterfall was agreed to on 1/7/25 which is now X business days ago. This waterfall effectively zeroed out MPT of its remaining $130MM carrying value of PHPH on the balance sheet as of Q1:25. Why no 8-K This is VITAL liquidity to MPT. "Free liquidity" is much much lower and is further reduced now by the coming PHPH impairment. TLR ratio under secured RCF also takes a further hit. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942919129217782250) 2025-07-09 12:09:52 UTC XXX followers, 1119 engagements "What will the "agreed CT senior claims" be in the PMH waterfall $MPW @BigRiverCapita1"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945805437418250688) 2025-07-17 11:19:02 UTC XXX followers, XXX engagements "MPT want to sell equity to you to try to fix this 👇 $MPW Remember when they told Steward fine Didnt loan them money Wadley was legit Wouldnt need to backstop Steward ABL Prospect resolved Prospect paid all its rent Steward operations improving We dont own Malta Steward wouldnt need to file MPT dividend covered Steward rent covered 2x Steward investment fully recoverable Steward + Prospect opco investments worth $1.3bn $355MM from Yale Prospect recovering $150MM from PHP Prospect BK going fine Windfall from PHP Just a taste of who you are dealing with"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1944445493385343030) 2025-07-13 17:15:06 UTC XXX followers, XXX engagements "Bear Creek had a lien(s) on the DPP HSA settled for. Bear Creek appears to have no interest in sticking around Is MPT now HSAs only lender Just like with Steward $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945971458733162688) 2025-07-17 22:18:44 UTC XXX followers, XXX engagements "Just to be clear HSA (fka AHS who are they) an X% MPT has defaulted and continues to put up addl events of default under its only know payday lending relationship outside of MPT. After just three quarters Resolved $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945975542760485208) 2025-07-17 22:34:58 UTC XXX followers, XXX engagements "2.1/x MPT is the ONLY triple-net REIT we are aware of that has NEVER generated positive recurring cash flow after dividends. And this gives MPT credit for a X% return on their "CAPX" spend which is not clear that it actually earns from results. Why NEVER. $MPW Note: Recent improvement due solely to 70%+ dividend cut"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945141914572849567) 2025-07-15 15:22:26 UTC XXX followers, XXX engagements "@BornDwnUndr Lets not forget Swiss Medical which has paid no net rent to MPT and is an obvious case of round-tripping. And Priory w/o benefit of uneconomic 2022-2023 SLBs. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1946228758832095571) 2025-07-18 15:21:09 UTC XXX followers, XXX engagements "Happy Friday @McmathPat hope all is well. Are you aware you were lied to in your hearing 👇 $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943773034487107906) 2025-07-11 20:42:59 UTC XXX followers, XXX engagements "The PMH CA OpCos encumbered by MPTs leases are worthless in totality. They have no or near zero value. No one should be willing to pay anything for them 👇. What about stranded liabilities Thats why MPT lends to new operators and the operators pay nothing for the OpCo. Its actually more money out not money in just like with Steward. The real estate is obviously worth a fraction of what MPT paid. Why do you think the process is delayed and taking longer and more difficult than expected per the BK advisors. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945258866264170767) 2025-07-15 23:07:09 UTC XXX followers, XXX engagements "MPT tenant financial failures since 2022: Pipeline Alecto Steward Vibra Prospect Insight HSA Healthscope (right after MPT sold the assets still saddled with MPT's rent) Noticing a pattern $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1946228144601457040) 2025-07-18 15:18:43 UTC XXX followers, XXX engagements "This doesnt take into account additional WC loans and CAPX and its clear (despite MPTs lies) they dont have the funding right now to address the remaining 2026 unsecured notes. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943374702308704343) 2025-07-10 18:20:09 UTC XXX followers, XXX engagements "And this is why the MPT argument about their rents is pure nonsense and a masterclass in gaslighting. Yes it is a fixed cost after MPT strikes it But how can hospitals running at a X% pre-rent pre-CAPX margin afford 5-6% rent as a % of revenues That later escalates It's doomed to fail and they know it. Yet they do it anyway and then later lie about the impact. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942239848057745440) 2025-07-07 15:10:39 UTC XXX followers, XXX engagements "MEDIAN JV remains a pledged asset for MUTA purposes MPT equity stake must be subtracted for calculating unencumbered assets. No details here on Song fees which raise effective rate above XXX% (YTM basis) similar to Circle. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1944829111215775997) 2025-07-14 18:39:27 UTC XXX followers, XXX engagements "3.1/x UPDATE Post-PHPH ZERO & MPT Priming Headline: MPT appears out of free liquidity again. It must raise equity NOW. Coming impairment puts MPT further offsides on XXX% MUTA maintenance and XX% TLR incurrence. TLR means cannot issue new debt without equity. No $150MM cash in door just $2.3MM. Also $30MM immediate and $55MM future JMB DIP further primes MPT in BK waterfall. Must satisfy senior claims either through taking the hit through RE under a WholeCo sale and/or paying claims out of MPT cash if credit bid. Re-leasing CA would require add'l WC loan funding to new operator. Funding"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943324947448844333) 2025-07-10 15:02:27 UTC XXX followers, 7396 engagements ""MPT was here." $MPW And it deliberately egregiously overpays for "real estate" assets capitalizing inflated OpCo value into its "real estate." In August 2021 Steward/MPT bought X Miami hospitals from $THC. MPT was supposed to have put up $900MM for the real estate SHCS $200MM for the OpCos. The hospital OpCos would receive only X bids in the SHCS BK in 2024 ranging zero to $10MM vs. the $209MM paid Despite having essentially the same revenue performance as in 2020. What's worse After MPT initially capitalized $900MM into the Steward market for Florida joining the Space Coast hospitals in"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945560274326491292) 2025-07-16 19:04:50 UTC XXX followers, XXX engagements "@BonesJordann @Steward This might be helpful. PHPH process now complete. Awaiting outcome of HospitalCo WholeCo sales and/or credit bids w/ releasing. $300MM+ of senior claims to MPT's 90/10 split. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943094427959861414) 2025-07-09 23:46:27 UTC XXX followers, 1123 engagements "But but but MPTs accounts are audited @PwC @PwCUS plus the valuation consultants blessed a gross value for PHPH supporting $700MM or X% of assets on MPTs books at end of 2023. Some of MPTs original underwritten real estate value was embedded in PHPH. It just became a donut. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942878303347413461) 2025-07-09 09:27:39 UTC XXX followers, XXX engagements "Your daily reminder that MPT did not get $150MM from PHP. It received a bag of balls perhaps just enough to pay half of this quarters legal bills. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1944798175446892970) 2025-07-14 16:36:32 UTC XXX followers, XXX engagements "5.7/x "HSA fka AHS Never heard of them We wish them well" Unfortunately for MPT Bear Creek has heard of them. And just exercised its security interest in the $40MM HSA settled for w/ Steward Originally setup so that payment made right after year end as well. Let's watch that MPW WC loan balance out to HSA/AHS. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945923155102699903) 2025-07-17 19:06:48 UTC XXX followers, 2393 engagements "@BigRiverCapita1 @BonesJordann @Steward $40MM of rent on this What would that equate to in tenant loans $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943147633335521699) 2025-07-10 03:17:52 UTC XXX followers, XXX engagements "@BigRiverCapita1 Just remember this all-timer from Aldag. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945805028825993396) 2025-07-17 11:17:24 UTC XXX followers, XXX engagements "This is a mess. Similar to Steward very obvious no one willing to fund beyond JMB additional $30MM. Cash balance negative Balls in your court MPT. Either fund or accept failed sales process which also requires funding. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1942553752818561039) 2025-07-08 11:58:00 UTC XXX followers, 2041 engagements "This is why multiple Steward employees came to know MPT as "Uncle MPT." $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945883210178498793) 2025-07-17 16:28:04 UTC XXX followers, XXX engagements ""MPT was here." $MPW Question - Do "triple net landlords" exist to provide their largest tenants with rolling "short-term liquidity" Question - If MPT had not provided such liquidity was there an alternative capital source on similar terms Was there another capital source at all Question - Would Steward have "paid" and MPT recorded as "earnings" all of that rent Passive landlord Or equity sponsor to an insolvent control investment $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945520657758105910) 2025-07-16 16:27:25 UTC XXX followers, XXX engagements "Your daily reminder that MPT got ZEROED on its interest in PHPH. XXXX% loss vs. $700MM mark as of 31/12/23. "Validated." $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1943675143433208119) 2025-07-11 14:14:00 UTC XXX followers, 5218 engagements "Your daily reminder that MPT was ZEROED on its interest in PHPH. XX% loss already on the $1.8BN gross investment in PMH excl unpaid rent and interest. No $150MM cash coming in Q3. Further $130MM impairment. DISASTER. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945089263441256772) 2025-07-15 11:53:13 UTC XXX followers, XXX engagements "Every dollar you give MPT you get XX cents back AT BEST. Mathematically. And then they try to outsmart investors with fraud and wind up being too smart by half. And PHPH is a ZERO. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945204221919285590) 2025-07-15 19:30:01 UTC XXX followers, XXX engagements "MPT exited their big great awesome tremendous secured debt deal. Offsides on the XX% limitation on total leverage lol Thats how desperate they were to save the company in January after putting a bond maturity on the RCF. Which means they cant issue more debt And they shot that secured bullet. What will the banks require now And what did MPT get A little bit of time but basically out of free liquidity AGAIN For the third time in a year $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1945254414207328607) 2025-07-15 22:49:28 UTC XXX followers, XXX engagements "Goose egg Donut @DonutShorts And MPTs X% tenant HSA fka AHS is in default of its third-party loan agreement While its counsel tries to homestead in Florida. $MPW"  [@AmaralPartners](/creator/x/AmaralPartners) on [X](/post/tweet/1946202597804704152) 2025-07-18 13:37:12 UTC XXX followers, 2875 engagements
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
@AmaralPartners AMARAL Capital
AMARAL Capital posts on X about $mpw, $700mm, $150mm, debt the most. They currently have XXX followers and XXX posts still getting attention that total XXXXX engagements in the last XX hours.
Engagements: XXXXX #
- X Week XXXXXX +140%
- X Month XXXXXX -XX%
Mentions: XX #
- X Month XX -XX%
Followers: XXX #
- X Week XXX +11%
- X Month XXX +38%
CreatorRank: XXXXXXX #
Social Influence #
Social category influence finance countries
Social topic influence $mpw #1, $700mm #1, $150mm, debt, $40mm #1, $23mm, investment, $asth, money, waterfall
Top assets mentioned Medical Properties Trust, Inc. (MPW) Tenet Healthcare Corporation New (THC)
Top Social Posts #
Top posts by engagements in the last XX hours
"@Steward Just a brief update on MPT's recoveries on PHPH. $MPW"
@AmaralPartners on X 2025-07-09 21:57:12 UTC XXX followers, XXX engagements
"Good thing that Steve dba Matthew Hamner "Manager of Special Projects" and Senior Associate Larry Portal were on the case for Project Picasso out of the NYC office They were able to return .12% of MPT's gross investment in PMH before unpaid rent with that $2.3MM Speaking of unpaid rent + interest how much was there by the end of September 2022 $40MM Then tack on another $35MM or so in Q4:22 $MPW" @AmaralPartners on X 2025-07-13 22:58:12 UTC XXX followers, XXX engagements
""MPT was here." $MPW Everywhere Fingerprints all over it. All of the money came from MPT in these transactions. An effective "equity sponsor" to a bunch of scumbags looting an insolvent hospital system MPT pulling out money and doing plenty of looting itself. And mgmt lying about it along the way. 2016 - insolvent 2018-2019 - insolvent (w/ Steward itself showing negative equity value internally) 2020 - insolvent recapped by its "landlord" 2021 - insolvent w/ Hamner noting RDLT "free at last. to tkae a well-deserved distribution" funded by MPT. 2022 - more deeply insolvent MPT despite being a" @AmaralPartners on X 2025-07-16 09:09:23 UTC XXX followers, XXX engagements
"MPT took a XXXX% loss on this position the valuation of which XX months ago was highlighted as a critical audit matter along with Steward OpCo investments by @PwC . All a total loss. $MPW" @AmaralPartners on X 2025-07-16 16:09:35 UTC XXX followers, XXX engagements
"Two of the Steward ML1 replacement quality operators have already failed financially accounting for the vast majority of former ML1 book value to MPT. Insight in Ohio. HSA (who are they again Dont recall them) defaulted on a loan agreement with Bear Creek. Which means MPT is again propping up large insolvent tenants. $MPW" @AmaralPartners on X 2025-07-18 11:52:41 UTC XXX followers, XXX engagements
"And there we have it MPT got $2.3MM and then perhaps the residual $1.5MM from the sale of PHP to $ASTH. Had been written up to $700MM as of 31/12/23. "Validated" $MPW" @AmaralPartners on X 2025-07-09 01:26:56 UTC XXX followers, 1633 engagements
"MPTs management team KNOWS how bad their liquidity situation is. Thats why they had Goldman tell the new bond investors that they needed to recap with equity. Thats why they just had Goldman call around to soft gauge interest. $MPW" @AmaralPartners on X 2025-07-11 10:17:08 UTC XXX followers, XXX engagements
""MPT was here." $MPW MPT knowingly and willingly funded and facilitated a fraudulent extraction of wealth from @Steward. CFO Steve Hamner knew in late-December that the $335MM MPT takeout of the Cerberus convert was intended to allow RDLT to be "free at last. to take a well-deserved distribution" of $111MM. MPT counsel warned MPT that RDLT was trying to circumvent SHCS board approval MPT funded the Cerberus convert take-out on 8/1/21 regardless. Distribution declared one day later MPT then told investors SHCS has "a tremendous liquidity and equity value" coming out of the COVID year of 2020" @AmaralPartners on X 2025-07-17 10:54:01 UTC XXX followers, 1618 engagements
"Ask yourself "is this 👇 what a passive net lease landlord does or should be going" And then the more interesting question "why were they doing it" $MPW" @AmaralPartners on X 2025-07-17 12:30:00 UTC XXX followers, XXX engagements
"@BonesJordann @Steward The MPT $700MM+ PHPH convert was impaired and appears to have received just $2.3MM of value through the "confidential waterfall" from the $ASTH sale. That convert does not represent a claim in the BK nor does it receive value from the settlement waterfall. $MPW" @AmaralPartners on X 2025-07-09 23:56:58 UTC XXX followers, XXX engagements
"MPT hasn't generated positive FCF as a purported "triple-net" REIT () in. checks notes. FOREVER. NEVER. Not a single quarter since at least 2010. Pre- during and post-Steward. Find another net lease landlord that does that You can't. $MPW" @AmaralPartners on X 2025-07-14 23:35:34 UTC XXX followers, XXX engagements
"5.8/x XX% of MPT's current balance sheet which MPT mgmt continuously tries to gaslight about being now "better" is in BK or default if you include Insight and Vibra. XX% from Prospect and HSA alone. $MPW" @AmaralPartners on X 2025-07-18 18:41:49 UTC XXX followers, XXX engagements
"For those keeping score at home this is now a $1.1BN loss (so far) on a total $1.8BN gross investment by MPT into PMH. That is XX% thus far with more likely coming. For "net leased" real estate. On top of the Steward debacle. "The strength of our underwriting." $MPW" @AmaralPartners on X 2025-07-09 02:19:58 UTC XXX followers, XXX engagements
"MPT needs money to meet its funding obligations and newsflash Tt cannot come from debt. $MPW" @AmaralPartners on X 2025-07-10 21:03:23 UTC XXX followers, XXX engagements
"If the "sales processes are going great so many bidders nearly a billion coming to Prospect/MPT from CA + CT CA market is amazing" And Prospect just received $67.05MM from $ASTH applied first to the $90MM DIP ABL facility in the waterfall. . then why is the Debtor upsizing the JMB DIP by $30MM and why does it include moving the deadline for stalking horse bids back to 15/8/25 Sounds a lot like the Steward process How did that go It's all nonsense including from the court hearing a couple weeks back. Look at the numbers they tell the story Who in their right mind would enter into these lease" @AmaralPartners on X 2025-07-08 10:40:30 UTC XXX followers, XXX engagements
"2/x - MPT's FCF ( - ) & Does Not "Cover" Existing Dividend - OCF was nearly zero in Q1:25 - MPT burned nearly $100MM in the quarter before WC and dividends - We estimate $100MM of tenant support + other "CAPX" spending in the quarter w/ no new WC loans repaid - "Burn" worse once reflecting full quarter of new higher interest cost (est. $125MM/qtr.) - Even including new ML1 "rent" which will require more tenant support FCF still ( - ) and - Given that MPT cannot afford the dividend today with low-growth cash flow a higher share count post-raise will assuredly require another dividend cut. The" @AmaralPartners on X 2025-06-12 00:14:56 UTC XXX followers, XXX engagements
"Court approved $30MM JMB DIP upsize with likely add'l $25MM later. MPT primed by another $30MM immediately through waterfall likely more later as all parties repeatedly state $30MM not sufficient and needs more to get through sale milestone dates. $MPW" @AmaralPartners on X 2025-07-09 22:26:22 UTC XXX followers, 1385 engagements
"Of course no mention by MPT last month of pledging equity in JV Another way to buy face rate down and not just pure first mortgage on RE. JV equity pledge a cost. $MPW" @AmaralPartners on X 2025-07-14 18:57:27 UTC XXX followers, XXX engagements
"The PHPH waterfall was agreed to on 1/7/25 which is now X business days ago. This waterfall effectively zeroed out MPT of its remaining $130MM carrying value of PHPH on the balance sheet as of Q1:25. Why no 8-K This is VITAL liquidity to MPT. "Free liquidity" is much much lower and is further reduced now by the coming PHPH impairment. TLR ratio under secured RCF also takes a further hit. $MPW" @AmaralPartners on X 2025-07-09 12:09:52 UTC XXX followers, 1119 engagements
"What will the "agreed CT senior claims" be in the PMH waterfall $MPW @BigRiverCapita1" @AmaralPartners on X 2025-07-17 11:19:02 UTC XXX followers, XXX engagements
"MPT want to sell equity to you to try to fix this 👇 $MPW Remember when they told Steward fine Didnt loan them money Wadley was legit Wouldnt need to backstop Steward ABL Prospect resolved Prospect paid all its rent Steward operations improving We dont own Malta Steward wouldnt need to file MPT dividend covered Steward rent covered 2x Steward investment fully recoverable Steward + Prospect opco investments worth $1.3bn $355MM from Yale Prospect recovering $150MM from PHP Prospect BK going fine Windfall from PHP Just a taste of who you are dealing with" @AmaralPartners on X 2025-07-13 17:15:06 UTC XXX followers, XXX engagements
"Bear Creek had a lien(s) on the DPP HSA settled for. Bear Creek appears to have no interest in sticking around Is MPT now HSAs only lender Just like with Steward $MPW" @AmaralPartners on X 2025-07-17 22:18:44 UTC XXX followers, XXX engagements
"Just to be clear HSA (fka AHS who are they) an X% MPT has defaulted and continues to put up addl events of default under its only know payday lending relationship outside of MPT. After just three quarters Resolved $MPW" @AmaralPartners on X 2025-07-17 22:34:58 UTC XXX followers, XXX engagements
"2.1/x MPT is the ONLY triple-net REIT we are aware of that has NEVER generated positive recurring cash flow after dividends. And this gives MPT credit for a X% return on their "CAPX" spend which is not clear that it actually earns from results. Why NEVER. $MPW Note: Recent improvement due solely to 70%+ dividend cut" @AmaralPartners on X 2025-07-15 15:22:26 UTC XXX followers, XXX engagements
"@BornDwnUndr Lets not forget Swiss Medical which has paid no net rent to MPT and is an obvious case of round-tripping. And Priory w/o benefit of uneconomic 2022-2023 SLBs. $MPW" @AmaralPartners on X 2025-07-18 15:21:09 UTC XXX followers, XXX engagements
"Happy Friday @McmathPat hope all is well. Are you aware you were lied to in your hearing 👇 $MPW" @AmaralPartners on X 2025-07-11 20:42:59 UTC XXX followers, XXX engagements
"The PMH CA OpCos encumbered by MPTs leases are worthless in totality. They have no or near zero value. No one should be willing to pay anything for them 👇. What about stranded liabilities Thats why MPT lends to new operators and the operators pay nothing for the OpCo. Its actually more money out not money in just like with Steward. The real estate is obviously worth a fraction of what MPT paid. Why do you think the process is delayed and taking longer and more difficult than expected per the BK advisors. $MPW" @AmaralPartners on X 2025-07-15 23:07:09 UTC XXX followers, XXX engagements
"MPT tenant financial failures since 2022: Pipeline Alecto Steward Vibra Prospect Insight HSA Healthscope (right after MPT sold the assets still saddled with MPT's rent) Noticing a pattern $MPW" @AmaralPartners on X 2025-07-18 15:18:43 UTC XXX followers, XXX engagements
"This doesnt take into account additional WC loans and CAPX and its clear (despite MPTs lies) they dont have the funding right now to address the remaining 2026 unsecured notes. $MPW" @AmaralPartners on X 2025-07-10 18:20:09 UTC XXX followers, XXX engagements
"And this is why the MPT argument about their rents is pure nonsense and a masterclass in gaslighting. Yes it is a fixed cost after MPT strikes it But how can hospitals running at a X% pre-rent pre-CAPX margin afford 5-6% rent as a % of revenues That later escalates It's doomed to fail and they know it. Yet they do it anyway and then later lie about the impact. $MPW" @AmaralPartners on X 2025-07-07 15:10:39 UTC XXX followers, XXX engagements
"MEDIAN JV remains a pledged asset for MUTA purposes MPT equity stake must be subtracted for calculating unencumbered assets. No details here on Song fees which raise effective rate above XXX% (YTM basis) similar to Circle. $MPW" @AmaralPartners on X 2025-07-14 18:39:27 UTC XXX followers, XXX engagements
"3.1/x UPDATE Post-PHPH ZERO & MPT Priming Headline: MPT appears out of free liquidity again. It must raise equity NOW. Coming impairment puts MPT further offsides on XXX% MUTA maintenance and XX% TLR incurrence. TLR means cannot issue new debt without equity. No $150MM cash in door just $2.3MM. Also $30MM immediate and $55MM future JMB DIP further primes MPT in BK waterfall. Must satisfy senior claims either through taking the hit through RE under a WholeCo sale and/or paying claims out of MPT cash if credit bid. Re-leasing CA would require add'l WC loan funding to new operator. Funding" @AmaralPartners on X 2025-07-10 15:02:27 UTC XXX followers, 7396 engagements
""MPT was here." $MPW And it deliberately egregiously overpays for "real estate" assets capitalizing inflated OpCo value into its "real estate." In August 2021 Steward/MPT bought X Miami hospitals from $THC. MPT was supposed to have put up $900MM for the real estate SHCS $200MM for the OpCos. The hospital OpCos would receive only X bids in the SHCS BK in 2024 ranging zero to $10MM vs. the $209MM paid Despite having essentially the same revenue performance as in 2020. What's worse After MPT initially capitalized $900MM into the Steward market for Florida joining the Space Coast hospitals in" @AmaralPartners on X 2025-07-16 19:04:50 UTC XXX followers, XXX engagements
"@BonesJordann @Steward This might be helpful. PHPH process now complete. Awaiting outcome of HospitalCo WholeCo sales and/or credit bids w/ releasing. $300MM+ of senior claims to MPT's 90/10 split. $MPW" @AmaralPartners on X 2025-07-09 23:46:27 UTC XXX followers, 1123 engagements
"But but but MPTs accounts are audited @PwC @PwCUS plus the valuation consultants blessed a gross value for PHPH supporting $700MM or X% of assets on MPTs books at end of 2023. Some of MPTs original underwritten real estate value was embedded in PHPH. It just became a donut. $MPW" @AmaralPartners on X 2025-07-09 09:27:39 UTC XXX followers, XXX engagements
"Your daily reminder that MPT did not get $150MM from PHP. It received a bag of balls perhaps just enough to pay half of this quarters legal bills. $MPW" @AmaralPartners on X 2025-07-14 16:36:32 UTC XXX followers, XXX engagements
"5.7/x "HSA fka AHS Never heard of them We wish them well" Unfortunately for MPT Bear Creek has heard of them. And just exercised its security interest in the $40MM HSA settled for w/ Steward Originally setup so that payment made right after year end as well. Let's watch that MPW WC loan balance out to HSA/AHS. $MPW" @AmaralPartners on X 2025-07-17 19:06:48 UTC XXX followers, 2393 engagements
"@BigRiverCapita1 @BonesJordann @Steward $40MM of rent on this What would that equate to in tenant loans $MPW" @AmaralPartners on X 2025-07-10 03:17:52 UTC XXX followers, XXX engagements
"@BigRiverCapita1 Just remember this all-timer from Aldag. $MPW" @AmaralPartners on X 2025-07-17 11:17:24 UTC XXX followers, XXX engagements
"This is a mess. Similar to Steward very obvious no one willing to fund beyond JMB additional $30MM. Cash balance negative Balls in your court MPT. Either fund or accept failed sales process which also requires funding. $MPW" @AmaralPartners on X 2025-07-08 11:58:00 UTC XXX followers, 2041 engagements
"This is why multiple Steward employees came to know MPT as "Uncle MPT." $MPW" @AmaralPartners on X 2025-07-17 16:28:04 UTC XXX followers, XXX engagements
""MPT was here." $MPW Question - Do "triple net landlords" exist to provide their largest tenants with rolling "short-term liquidity" Question - If MPT had not provided such liquidity was there an alternative capital source on similar terms Was there another capital source at all Question - Would Steward have "paid" and MPT recorded as "earnings" all of that rent Passive landlord Or equity sponsor to an insolvent control investment $MPW" @AmaralPartners on X 2025-07-16 16:27:25 UTC XXX followers, XXX engagements
"Your daily reminder that MPT got ZEROED on its interest in PHPH. XXXX% loss vs. $700MM mark as of 31/12/23. "Validated." $MPW" @AmaralPartners on X 2025-07-11 14:14:00 UTC XXX followers, 5218 engagements
"Your daily reminder that MPT was ZEROED on its interest in PHPH. XX% loss already on the $1.8BN gross investment in PMH excl unpaid rent and interest. No $150MM cash coming in Q3. Further $130MM impairment. DISASTER. $MPW" @AmaralPartners on X 2025-07-15 11:53:13 UTC XXX followers, XXX engagements
"Every dollar you give MPT you get XX cents back AT BEST. Mathematically. And then they try to outsmart investors with fraud and wind up being too smart by half. And PHPH is a ZERO. $MPW" @AmaralPartners on X 2025-07-15 19:30:01 UTC XXX followers, XXX engagements
"MPT exited their big great awesome tremendous secured debt deal. Offsides on the XX% limitation on total leverage lol Thats how desperate they were to save the company in January after putting a bond maturity on the RCF. Which means they cant issue more debt And they shot that secured bullet. What will the banks require now And what did MPT get A little bit of time but basically out of free liquidity AGAIN For the third time in a year $MPW" @AmaralPartners on X 2025-07-15 22:49:28 UTC XXX followers, XXX engagements
"Goose egg Donut @DonutShorts And MPTs X% tenant HSA fka AHS is in default of its third-party loan agreement While its counsel tries to homestead in Florida. $MPW" @AmaralPartners on X 2025-07-18 13:37:12 UTC XXX followers, 2875 engagements