St. Elizabeth's Medical Center in Brighton. Photo courtesy of CBRE

Medical Properties Trust Inc. recapitalized its portfolio of eight acute care hospitals in Massachusetts in a $1.7 billion transaction.

Birmingham, Alabama-based MPT, a health care REIT, said it formed a joint venture with Macquarie Infrastructure Partners V, a private fund managed by Macquarie Asset Management, which acquired a 50 percent share.

The transaction includes eight Steward Health Care System-operated facilities: St. Elizabeth’s Medical Center in Brighton, Holy Family Hospitals in Methuen and Haverhill, Good Samaritan Medical Center in Brockton, Saint Anne’s Hospital in Fall River, Morton Hospital in Taunton, Nashoba Valley Medical Center in Ayer and Carney Hospital in Dorchester.

CBRE was advisor on the transaction to source the new equity partner in Macquarie and also secured debt financing for the new joint venture entity.

“This was a rare opportunity for an investor to partner with MPT to recapitalize the largest acute care hospital portfolio to come to market,” CBRE Vice Chairman Lee Asher said in a statement. “These are unique inpatient assets in critical healthcare markets in Massachusetts, and we believe the newly formed joint venture will successfully support Steward’s hospital operations and mission to deliver the highest quality care to its patients.”