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![AmaralPartners Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1896142355779948544.png) AMARAL Capital [@AmaralPartners](/creator/twitter/AmaralPartners) on x XXX followers
Created: 2025-07-16 19:04:50 UTC

"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 Q2:21 reported August, MPT committed a further $200MM thereafter in Q4:21! I.e., MPT reimbursed SHCS' share of the purchase price for the OpCo, putting up XXX% of the capital for a WholeCo deal! This +$200MM further inflated already unaffordable rents due from SHCS!

WholeCo now sitting on MPT's balance sheet leased to insolvent HSA (never met them!), to whom MPT is lending for working capital!

Fraud. Completely inflated, artificial marks. Capitalizing OpCo value into gross real estate on MPT's balance sheet.

![](https://pbs.twimg.com/media/GwABHk1W8AADw2O.png)

XXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1945560274326491292/c:line.svg)

**Related Topics**
[$10mm](/topic/$10mm)
[$200mm](/topic/$200mm)
[$900mm](/topic/$900mm)
[coins real estate](/topic/coins-real-estate)
[$mpw](/topic/$mpw)
[$thc](/topic/$thc)

[Post Link](https://x.com/AmaralPartners/status/1945560274326491292)