Medical Properties Reduces Quarterly Loss

Medical Properties Inc., a struggling Encino real estate investment trust, reported a loss of $519,000 for the second quarter, compared to a loss of $729,000 a year earlier.

Revenue for the quarter ended June 30 was $303,000, up 66% from $182,000 a year earlier. The company said the smaller loss and higher revenue were mainly because of interest from the payment of a lease termination note.

Medical Properties’ main holdings are a hospital and adjacent medical office building in La Mirada and a medical facility in Oregon. But Medical Properties said it could lose those assets because it is in default on its debt. Its debt-holder, the Foothill Capital, could foreclose on those properties.

For the six months ended June 30, Medical Properties posted a loss of $1.12 million, compared to a loss of $1.67 million for the same period last year. Revenue for the six months was $587,000, compared to $190,000 a year earlier.