Meditrust Completes $441 Million Healthcare Transaction; Total Bank Notes Payable Reduced to $86 Million

Apr 03, 2001, 01:00 ET from The Meditrust Companies

    DALLAS, April 3 /PRNewswire/ -- The Meditrust Companies (NYSE:   MT)
 ("Meditrust" or "the Companies") announced today the transfer of its
 beneficial ownership interest in a majority of its long-term care skilled
 nursing facilities.  The Companies received gross proceeds of $441 million,
 consisting of $406 million in cash and $35 million in subordinated
 indebtedness due April 2006.
     Net proceeds from the transaction have been applied towards debt
 reduction.  As a result, as of April 3, 2001, bank notes payable have been
 reduced to $86 million, total debt maturing in 2001 has been reduced to $223
 million and total indebtedness has been reduced to $1.2 billion.  The
 Companies anticipate meeting remaining 2001 debt maturities by refinancing
 existing debt, as well as through additional asset sales and cash flow
 generated from operating activities.
     The Companies transferred beneficial ownership interest in healthcare
 properties and mortgages with a net book value of $436 million relating to 78
 long term care facilities and one medical office building operated by Genesis
 Health Ventures, Inc., Harborside Healthcare Corporation, HealthSouth
 Corporation, Integrated Health Services, Inc., Mariner Health Group, Inc., Sun
 Healthcare Group, Inc. and one non-public operator.  The Companies expect to
 record a valuation allowance of approximately $5 million in the first quarter
 of 2001 in connection with the closing of the transaction and have previously
 recorded additional valuation allowances of $75 million related to these
 assets.
     Francis W. ("Butch") Cash, Chief Executive Officer of the Companies, said,
 "This transaction generated substantial cash proceeds and has deleveraged the
 Companies, reduced healthcare asset exposure and moved us closer to being a
 lodging-focused company.  We are pleased with our significant progress in
 reducing upcoming debt maturities through healthcare asset sales.  We will
 continue to work towards refinancing existing debt and selling healthcare
 assets, but we can now turn our primary attention to growing our lodging
 business which now accounts for 84% of our total real estate portfolio."
     Meditrust has reduced its exposure to operators in bankruptcy as a result
 of this transaction.  With the transfer of the Companies' beneficial ownership
 interest in facilities operated by Genesis Health Ventures, Inc., Integrated
 Health Services, Inc., Mariner Health Group, Inc. and Sun Healthcare Group,
 Inc., the Companies now have only five facilities with a net book value of $60
 million attributable to two operators in bankruptcy, down from $449 million at
 December 31, 2000.
     Meditrust's remaining healthcare portfolio has been reduced to 16% of its
 total real estate portfolio with a net book value of $468 million at December
 31, 2000 and has an operator coverage ratio of 1.4X (pro forma for the nine
 months ended September 30, 2000) which includes properties recently opened and
 in start-up phase.  The portfolio consists of $317 million of leased assets
 and $151 million of mortgages as measured by net book value at December 31,
 2000.  The remaining 120 healthcare properties contributed revenues of
 approximately $62.0 million to total healthcare segment revenues of $211.3
 million for the year ended December 31, 2000.  A summary of Meditrust's real
 estate portfolio as of December 31, 2000, after giving affect to the
 transaction, and other information is attached to this release.
 
     About The Meditrust Companies
     The Meditrust Companies (NYSE:   MT), a real estate investment trust
 headquartered in Dallas, Texas, consists of Meditrust Corporation, a REIT, and
 Meditrust Operating Company. Meditrust Corporation's portfolio consists of
 299 lodging facilities, 94 assisted living facilities, 15 long-term care
 facilities, four medical office buildings and seven other healthcare
 facilities.  Meditrust Operating Company operates all of the lodging
 facilities under the La Quinta brand name.  Today's news release as well as
 other news about The Meditrust Companies is available on the Internet at
 http://www.reit.com.
 
     About La Quinta Inns, Inc.
     La Quinta Inns, Inc. owns and operates 229 Inns and 70 Inn & Suites in
 28 states.  La Quinta is the lodging division of The Meditrust Companies and
 is also headquartered in Dallas.  For more information about La Quinta, please
 visit its Web site at http://www.laquinta.com.
 
     Certain matters discussed herein may constitute "forward-looking
 statements" within the meaning of the federal securities laws. The Meditrust
 Companies (the "Companies"), consisting of Meditrust Corporation ("Realty")
 and Meditrust Operating Company ("Operating"), intend such forward-looking
 statements to be covered by the safe harbor provisions for forward-looking
 statements, and are including this statement for purposes of complying with
 these safe harbor provisions. Although the Companies believe the
 forward-looking statements are based on reasonable assumptions, the Companies
 can give no assurance that their expectations will be attained. Actual results
 and the timing of certain events could differ materially from those projected
 in or contemplated by the forward-looking statements due to a number of
 factors, including, without limitation, general economic and real estate
 conditions, the conditions of the capital markets in general, the ability of
 the Companies to refinance and/or pay off near term debt maturities, the
 identification of satisfactory prospective buyers for healthcare related
 assets of the Companies and the availability of financing for such prospective
 buyers, the availability of financing for the Companies' capital investment
 program, interest rates, competition for hotel services and healthcare
 facilities in a given market, the enactment of legislation further impacting
 the Companies' status as a paired share real estate investment trust ("REIT")
 or Realty's status as a REIT, the further implementation of regulations
 governing payments to, as well as the financial conditions of, operators of
 Realty's healthcare related assets, including the filing for protection under
 the US Bankruptcy Code by any operators of the Companies healthcare assets,
 the impact of the protection offered under the US Bankruptcy Code for those
 operators who have already filed for such protection, and other risks detailed
 from time to time in the filings of Realty and Operating with the Securities
 and Exchange Commission ("SEC"), including, without limitation, the risks
 described in Item 7 of  the Joint Annual Report on Form 10-K entitled "Certain
 Factors You Should Consider."
 
                            The Meditrust Companies
                             Supplementary Schedule
                         Real Estate Portfolio Summary
                                  (Unaudited)
 
     Transaction Detail
     (As of December 31, 2000)
     (In thousands,
      except number of
      properties and
      percentages)
 
                                                                      % of
                                Gross     Net Book         # of      Healthcare
                           Investment        Value   Properties    Portfolio(1)
 
     Sun Healthcare
      Group, Inc.        $    379,377   $  300,389           38             28%
 
     Harborside
      Healthcare
      Corporation              89,807       80,469           17              7%
     Integrated Health
      Services, Inc.           50,973       37,066           10              3%
     Other                     42,908       35,248            4              3%
     Genesis Health
      Ventures, Inc.           35,625       33,552            8              3%
     HealthSouth
      Corporation              24,724       24,724            2              2%
 
                              623,414      511,448           79             47%
     Valuation Allowance           --      (75,498)
 
     Total               $    623,414   $  435,950
 
     (1) Percentage of total healthcare portfolio at December 31, 2000 before
         accounting for the transaction.
 
 
                             Mortgages         # of       Leases       # of
                                         Properties                  Leases
 
     Sun Healthcare
      Group, Inc.        $      30,410            4   $  269,979         34
     Harborside
      Healthcare
      Corporation               15,922            4       64,547         13
     Integrated Health
      Services, Inc.                --           --       37,066         10
     Other                       7,057            1       28,191          3
     Genesis Health
      Ventures, Inc.            18,425            4       15,127          4
     HealthSouth Corporation    24,724            2           --         --
 
                                96,538           15      414,910         64
     Valuation Allowance       (25,416)                  (50,082)
     Total               $      71,122                $  364,828
 
 
     Remaining Portfolio
      by Operator (Pro forma
      at December 31, 2000
      to reflect
      April 2, 2001
      transaction)
     (In thousands, except
      number of properties
      and percentages)
 
                                Gross     Net Book         # of         % of
                           Investment        Value   Properties   Healthcare
                                                                   Portfolio
 
     Lodging:
     La Quinta Companies   $2,669,577  $ 2,448,391          299
 
     Healthcare Portfolio:
     Alterra Healthcare
      Corp.                   161,592      149,190           57          26%
     Balanced Care
      Corporation              93,618       91,974           19          16%
     Other Non-Public
      Operators                81,160       81,160            9          14%
     Tenet Healthcare/Iasis    65,650       56,189            1          10%
     Other Public Operators    61,437       51,943            7           9%
     CareMatrix Corporation    50,606       49,446            4           9%
     Assisted Living Concepts  31,487       28,400           16           5%
     ARV Assisted Living, Inc. 28,982       26,461            4           5%
     Life Care Centers
      of America, Inc          26,212       26,212            2           5%
     Paramount Real
      Estate Services           9,756        9,024            1           1%
 
                              610,500      569,999          120         100%
     Valuation Allowance                  (101,664)
 
                              610,500      468,335          120
 
     Total Real
      Estate Portfolio    $ 3,280,077  $ 2,916,726          419
 
 
                                                # of                    # of
                            Mortgages     Properties       Leases     Leases
 
     Lodging:
     La Quinta Companies
     Healthcare Portfolio:
     Alterra Healthcare
      Corp.                 $      --             --   $  149,190         57
     Balanced Care
      Corporation              36,695              7       55,279         12
     Other Non-Public
      Operators                81,160              9           --         --
     Tenet Healthcare/Iasis        --             --       56,189          1
     Other Public Operators        --             --       51,943          7
     CareMatrix Corporation    35,606              3       13,840          1
     Assisted Living
      Concepts                     --             --       28,400         16
     ARV Assisted
      Living, Inc.                 --             --       26,461          4
     Life Care Centers
      of America, Inc          26,212              2           --         --
     Paramount Real
      Estate Services              --             --        9,024          1
 
                              179,673             21      390,326         99
     Valuation Allowance      (28,224)                    (73,440)
 
                         $    151,449                  $  316,886
 
     Total Real Estate
      Portfolio
 
 
                            The Meditrust Companies
                       Supplementary Schedule (continued)
                         Real Estate Portfolio Summary
                                  (Unaudited)
 
 
     Remaining Portfolio
      by Type of Investment
     (Pro forma at
      December 31, 2000 to
      reflect April 2, 2001
      transaction)
     (In thousands, except
      number of properties
      and percentages)
 
                                   Gross     Net Book           # of       % of
                              Investment        Value     Properties  Portfolio
 
     Owned Properties    $     3,100,404  $ 2,765,277            398      94.8%
     Mortgages                   179,673      151,449             21       5.2%
     Total               $     3,280,077  $ 2,916,726            419     100.0%
 
 
     Remaining
      Portfolio by
      Type of Facility
     (Pro forma at
     December 31, 2000
     to reflect April 2,
     2001 transaction)
     (In thousands, except
      number of properties
      and percentages)
 
                                  Gross    Net Book         # of        % of
     Lodging Portfolio:      Investment       Value   Properties   Portfolio
     Hotel                   $2,669,577  $2,448,391          299         84%
 
     Healthcare Portfolio:
     Assisted Living            328,974     308,465           94
     Long Term Care             128,593     120,469           15
     Acute Care Hospital         65,650      56,189            1
     Other Healthcare            51,315      49,639            6
     Medical Office Buildings    35,968      35,237            4
 
                                610,500     569,999          120
     Valuation Allowance             --    (101,664)          --
 
                                610,500     468,335          120         16%
 
     Total Real Estate
      Portfolio             $ 3,280,077 $ 2,916,726          419        100%
 
 
                                                   # of                   # of
      Lodging Portfolio:         Mortgages   Properties     Leases      Leases
 
     Hotel
     Healthcare Portfolio:
     Assisted Living           $    35,815            3   $272,650          91
     Long Term Care                 72,411           10     48,058           5
     Acute Care Hospital                --           --     56,189           1
     Other Healthcare               45,235            5      4,405           1
     Medical Office Buildings       26,212            3      9,024           1
 
                                   179,673           21    390,326          99
     Valuation Allowance           (28,224)                (73,440)
 
                                $  151,449                $316,886
     Total Real Estate
      Portfolio
 
 
     Remaining Operators
      in Chapter 11 Bankruptcy
     (Pro forma at December 31, 2000
     to reflect April 2, 2001
     transaction)
     (In thousands, except
      for number of facilities)
 
 
                                                      Leases
 
                                  Total
 
     Operator   Date filed     Facilities    Facilities       Net Book Value
 
     CareMatrix    11/9/00         4             1             $   13,840
     Sun          10/14/99         1             1                 10,762
     Totals                        5             2             $   24,602
 
 
 
                                                        Year ended
                                 Mortgages           December 31, 2000
 
                                                   Rental        Interest
                                       Net Book
     Operator             Facilities    Value      Income         Income
     CareMatrix               3       $ 35,606     $ 1,648       $ 1,691(1)
     Sun                     --             --       1,399            --
     Totals                   3       $ 35,606     $ 3,047       $ 1,691
 
     (1) Mortgages related to CareMatrix Corporation ("CareMatrix") have been
         placed on non-accrual status and interest income is recorded as
         payments are received.
 
                            The Meditrust Companies
                       Supplementary Schedule (continued)
                   Debt Maturity and Capitalization Schedules
                                  (Unaudited)
 
 
     Debt Maturity Schedule
     (As of April 3, 2001)
     (In millions)
 
 
                                              Bank      Bonds and
     Year            Notes  Convertible      Notes      Mortgages
                   Payable   Debentures      Payable      Payable       Total
 
     2001            $ 123          $--          $86          $14        $223
     2002               36           54           --            2          92
     2003           205(a)           --           --            2         207
     2004              250           --           --            2         252
     2005              116           --           --           --         116
     2006 and
      thereafter       287           --           --           14         301
     Subtotal        1,017           54           86           34       1,191
 
     Unamortized debt
      issuance costs   (3)           --          (1)           --         (4)
     Debt, net      $1,014          $54          $85          $34      $1,187
 
     (a) Assumes $175 million of Notes due in 2026 are put to the Companies.
 
 
     Capitalization Schedule
     (Pro forma to reflect
      April 2, 2001 transaction)
 
                                  December 31,    December 31,  December 31,
                                      2000            2000          1999
     (In millions, except
       for percentages)            Pro forma        Actual          Actual
 
     Total indebtedness               $1,187        $1,590          $2,597
     Equity                            2,318         2,323           2,673
     Total capitalization             $3,505        $3,913          $5,270
     Debt to total
      capitalization                     34%           41%             49%
 
     Shares outstanding                142.9         142.9           141.0
 
 

SOURCE The Meditrust Companies
    DALLAS, April 3 /PRNewswire/ -- The Meditrust Companies (NYSE:   MT)
 ("Meditrust" or "the Companies") announced today the transfer of its
 beneficial ownership interest in a majority of its long-term care skilled
 nursing facilities.  The Companies received gross proceeds of $441 million,
 consisting of $406 million in cash and $35 million in subordinated
 indebtedness due April 2006.
     Net proceeds from the transaction have been applied towards debt
 reduction.  As a result, as of April 3, 2001, bank notes payable have been
 reduced to $86 million, total debt maturing in 2001 has been reduced to $223
 million and total indebtedness has been reduced to $1.2 billion.  The
 Companies anticipate meeting remaining 2001 debt maturities by refinancing
 existing debt, as well as through additional asset sales and cash flow
 generated from operating activities.
     The Companies transferred beneficial ownership interest in healthcare
 properties and mortgages with a net book value of $436 million relating to 78
 long term care facilities and one medical office building operated by Genesis
 Health Ventures, Inc., Harborside Healthcare Corporation, HealthSouth
 Corporation, Integrated Health Services, Inc., Mariner Health Group, Inc., Sun
 Healthcare Group, Inc. and one non-public operator.  The Companies expect to
 record a valuation allowance of approximately $5 million in the first quarter
 of 2001 in connection with the closing of the transaction and have previously
 recorded additional valuation allowances of $75 million related to these
 assets.
     Francis W. ("Butch") Cash, Chief Executive Officer of the Companies, said,
 "This transaction generated substantial cash proceeds and has deleveraged the
 Companies, reduced healthcare asset exposure and moved us closer to being a
 lodging-focused company.  We are pleased with our significant progress in
 reducing upcoming debt maturities through healthcare asset sales.  We will
 continue to work towards refinancing existing debt and selling healthcare
 assets, but we can now turn our primary attention to growing our lodging
 business which now accounts for 84% of our total real estate portfolio."
     Meditrust has reduced its exposure to operators in bankruptcy as a result
 of this transaction.  With the transfer of the Companies' beneficial ownership
 interest in facilities operated by Genesis Health Ventures, Inc., Integrated
 Health Services, Inc., Mariner Health Group, Inc. and Sun Healthcare Group,
 Inc., the Companies now have only five facilities with a net book value of $60
 million attributable to two operators in bankruptcy, down from $449 million at
 December 31, 2000.
     Meditrust's remaining healthcare portfolio has been reduced to 16% of its
 total real estate portfolio with a net book value of $468 million at December
 31, 2000 and has an operator coverage ratio of 1.4X (pro forma for the nine
 months ended September 30, 2000) which includes properties recently opened and
 in start-up phase.  The portfolio consists of $317 million of leased assets
 and $151 million of mortgages as measured by net book value at December 31,
 2000.  The remaining 120 healthcare properties contributed revenues of
 approximately $62.0 million to total healthcare segment revenues of $211.3
 million for the year ended December 31, 2000.  A summary of Meditrust's real
 estate portfolio as of December 31, 2000, after giving affect to the
 transaction, and other information is attached to this release.
 
     About The Meditrust Companies
     The Meditrust Companies (NYSE:   MT), a real estate investment trust
 headquartered in Dallas, Texas, consists of Meditrust Corporation, a REIT, and
 Meditrust Operating Company. Meditrust Corporation's portfolio consists of
 299 lodging facilities, 94 assisted living facilities, 15 long-term care
 facilities, four medical office buildings and seven other healthcare
 facilities.  Meditrust Operating Company operates all of the lodging
 facilities under the La Quinta brand name.  Today's news release as well as
 other news about The Meditrust Companies is available on the Internet at
 http://www.reit.com.
 
     About La Quinta Inns, Inc.
     La Quinta Inns, Inc. owns and operates 229 Inns and 70 Inn & Suites in
 28 states.  La Quinta is the lodging division of The Meditrust Companies and
 is also headquartered in Dallas.  For more information about La Quinta, please
 visit its Web site at http://www.laquinta.com.
 
     Certain matters discussed herein may constitute "forward-looking
 statements" within the meaning of the federal securities laws. The Meditrust
 Companies (the "Companies"), consisting of Meditrust Corporation ("Realty")
 and Meditrust Operating Company ("Operating"), intend such forward-looking
 statements to be covered by the safe harbor provisions for forward-looking
 statements, and are including this statement for purposes of complying with
 these safe harbor provisions. Although the Companies believe the
 forward-looking statements are based on reasonable assumptions, the Companies
 can give no assurance that their expectations will be attained. Actual results
 and the timing of certain events could differ materially from those projected
 in or contemplated by the forward-looking statements due to a number of
 factors, including, without limitation, general economic and real estate
 conditions, the conditions of the capital markets in general, the ability of
 the Companies to refinance and/or pay off near term debt maturities, the
 identification of satisfactory prospective buyers for healthcare related
 assets of the Companies and the availability of financing for such prospective
 buyers, the availability of financing for the Companies' capital investment
 program, interest rates, competition for hotel services and healthcare
 facilities in a given market, the enactment of legislation further impacting
 the Companies' status as a paired share real estate investment trust ("REIT")
 or Realty's status as a REIT, the further implementation of regulations
 governing payments to, as well as the financial conditions of, operators of
 Realty's healthcare related assets, including the filing for protection under
 the US Bankruptcy Code by any operators of the Companies healthcare assets,
 the impact of the protection offered under the US Bankruptcy Code for those
 operators who have already filed for such protection, and other risks detailed
 from time to time in the filings of Realty and Operating with the Securities
 and Exchange Commission ("SEC"), including, without limitation, the risks
 described in Item 7 of  the Joint Annual Report on Form 10-K entitled "Certain
 Factors You Should Consider."
 
                            The Meditrust Companies
                             Supplementary Schedule
                         Real Estate Portfolio Summary
                                  (Unaudited)
 
     Transaction Detail
     (As of December 31, 2000)
     (In thousands,
      except number of
      properties and
      percentages)
 
                                                                      % of
                                Gross     Net Book         # of      Healthcare
                           Investment        Value   Properties    Portfolio(1)
 
     Sun Healthcare
      Group, Inc.        $    379,377   $  300,389           38             28%
 
     Harborside
      Healthcare
      Corporation              89,807       80,469           17              7%
     Integrated Health
      Services, Inc.           50,973       37,066           10              3%
     Other                     42,908       35,248            4              3%
     Genesis Health
      Ventures, Inc.           35,625       33,552            8              3%
     HealthSouth
      Corporation              24,724       24,724            2              2%
 
                              623,414      511,448           79             47%
     Valuation Allowance           --      (75,498)
 
     Total               $    623,414   $  435,950
 
     (1) Percentage of total healthcare portfolio at December 31, 2000 before
         accounting for the transaction.
 
 
                             Mortgages         # of       Leases       # of
                                         Properties                  Leases
 
     Sun Healthcare
      Group, Inc.        $      30,410            4   $  269,979         34
     Harborside
      Healthcare
      Corporation               15,922            4       64,547         13
     Integrated Health
      Services, Inc.                --           --       37,066         10
     Other                       7,057            1       28,191          3
     Genesis Health
      Ventures, Inc.            18,425            4       15,127          4
     HealthSouth Corporation    24,724            2           --         --
 
                                96,538           15      414,910         64
     Valuation Allowance       (25,416)                  (50,082)
     Total               $      71,122                $  364,828
 
 
     Remaining Portfolio
      by Operator (Pro forma
      at December 31, 2000
      to reflect
      April 2, 2001
      transaction)
     (In thousands, except
      number of properties
      and percentages)
 
                                Gross     Net Book         # of         % of
                           Investment        Value   Properties   Healthcare
                                                                   Portfolio
 
     Lodging:
     La Quinta Companies   $2,669,577  $ 2,448,391          299
 
     Healthcare Portfolio:
     Alterra Healthcare
      Corp.                   161,592      149,190           57          26%
     Balanced Care
      Corporation              93,618       91,974           19          16%
     Other Non-Public
      Operators                81,160       81,160            9          14%
     Tenet Healthcare/Iasis    65,650       56,189            1          10%
     Other Public Operators    61,437       51,943            7           9%
     CareMatrix Corporation    50,606       49,446            4           9%
     Assisted Living Concepts  31,487       28,400           16           5%
     ARV Assisted Living, Inc. 28,982       26,461            4           5%
     Life Care Centers
      of America, Inc          26,212       26,212            2           5%
     Paramount Real
      Estate Services           9,756        9,024            1           1%
 
                              610,500      569,999          120         100%
     Valuation Allowance                  (101,664)
 
                              610,500      468,335          120
 
     Total Real
      Estate Portfolio    $ 3,280,077  $ 2,916,726          419
 
 
                                                # of                    # of
                            Mortgages     Properties       Leases     Leases
 
     Lodging:
     La Quinta Companies
     Healthcare Portfolio:
     Alterra Healthcare
      Corp.                 $      --             --   $  149,190         57
     Balanced Care
      Corporation              36,695              7       55,279         12
     Other Non-Public
      Operators                81,160              9           --         --
     Tenet Healthcare/Iasis        --             --       56,189          1
     Other Public Operators        --             --       51,943          7
     CareMatrix Corporation    35,606              3       13,840          1
     Assisted Living
      Concepts                     --             --       28,400         16
     ARV Assisted
      Living, Inc.                 --             --       26,461          4
     Life Care Centers
      of America, Inc          26,212              2           --         --
     Paramount Real
      Estate Services              --             --        9,024          1
 
                              179,673             21      390,326         99
     Valuation Allowance      (28,224)                    (73,440)
 
                         $    151,449                  $  316,886
 
     Total Real Estate
      Portfolio
 
 
                            The Meditrust Companies
                       Supplementary Schedule (continued)
                         Real Estate Portfolio Summary
                                  (Unaudited)
 
 
     Remaining Portfolio
      by Type of Investment
     (Pro forma at
      December 31, 2000 to
      reflect April 2, 2001
      transaction)
     (In thousands, except
      number of properties
      and percentages)
 
                                   Gross     Net Book           # of       % of
                              Investment        Value     Properties  Portfolio
 
     Owned Properties    $     3,100,404  $ 2,765,277            398      94.8%
     Mortgages                   179,673      151,449             21       5.2%
     Total               $     3,280,077  $ 2,916,726            419     100.0%
 
 
     Remaining
      Portfolio by
      Type of Facility
     (Pro forma at
     December 31, 2000
     to reflect April 2,
     2001 transaction)
     (In thousands, except
      number of properties
      and percentages)
 
                                  Gross    Net Book         # of        % of
     Lodging Portfolio:      Investment       Value   Properties   Portfolio
     Hotel                   $2,669,577  $2,448,391          299         84%
 
     Healthcare Portfolio:
     Assisted Living            328,974     308,465           94
     Long Term Care             128,593     120,469           15
     Acute Care Hospital         65,650      56,189            1
     Other Healthcare            51,315      49,639            6
     Medical Office Buildings    35,968      35,237            4
 
                                610,500     569,999          120
     Valuation Allowance             --    (101,664)          --
 
                                610,500     468,335          120         16%
 
     Total Real Estate
      Portfolio             $ 3,280,077 $ 2,916,726          419        100%
 
 
                                                   # of                   # of
      Lodging Portfolio:         Mortgages   Properties     Leases      Leases
 
     Hotel
     Healthcare Portfolio:
     Assisted Living           $    35,815            3   $272,650          91
     Long Term Care                 72,411           10     48,058           5
     Acute Care Hospital                --           --     56,189           1
     Other Healthcare               45,235            5      4,405           1
     Medical Office Buildings       26,212            3      9,024           1
 
                                   179,673           21    390,326          99
     Valuation Allowance           (28,224)                (73,440)
 
                                $  151,449                $316,886
     Total Real Estate
      Portfolio
 
 
     Remaining Operators
      in Chapter 11 Bankruptcy
     (Pro forma at December 31, 2000
     to reflect April 2, 2001
     transaction)
     (In thousands, except
      for number of facilities)
 
 
                                                      Leases
 
                                  Total
 
     Operator   Date filed     Facilities    Facilities       Net Book Value
 
     CareMatrix    11/9/00         4             1             $   13,840
     Sun          10/14/99         1             1                 10,762
     Totals                        5             2             $   24,602
 
 
 
                                                        Year ended
                                 Mortgages           December 31, 2000
 
                                                   Rental        Interest
                                       Net Book
     Operator             Facilities    Value      Income         Income
     CareMatrix               3       $ 35,606     $ 1,648       $ 1,691(1)
     Sun                     --             --       1,399            --
     Totals                   3       $ 35,606     $ 3,047       $ 1,691
 
     (1) Mortgages related to CareMatrix Corporation ("CareMatrix") have been
         placed on non-accrual status and interest income is recorded as
         payments are received.
 
                            The Meditrust Companies
                       Supplementary Schedule (continued)
                   Debt Maturity and Capitalization Schedules
                                  (Unaudited)
 
 
     Debt Maturity Schedule
     (As of April 3, 2001)
     (In millions)
 
 
                                              Bank      Bonds and
     Year            Notes  Convertible      Notes      Mortgages
                   Payable   Debentures      Payable      Payable       Total
 
     2001            $ 123          $--          $86          $14        $223
     2002               36           54           --            2          92
     2003           205(a)           --           --            2         207
     2004              250           --           --            2         252
     2005              116           --           --           --         116
     2006 and
      thereafter       287           --           --           14         301
     Subtotal        1,017           54           86           34       1,191
 
     Unamortized debt
      issuance costs   (3)           --          (1)           --         (4)
     Debt, net      $1,014          $54          $85          $34      $1,187
 
     (a) Assumes $175 million of Notes due in 2026 are put to the Companies.
 
 
     Capitalization Schedule
     (Pro forma to reflect
      April 2, 2001 transaction)
 
                                  December 31,    December 31,  December 31,
                                      2000            2000          1999
     (In millions, except
       for percentages)            Pro forma        Actual          Actual
 
     Total indebtedness               $1,187        $1,590          $2,597
     Equity                            2,318         2,323           2,673
     Total capitalization             $3,505        $3,913          $5,270
     Debt to total
      capitalization                     34%           41%             49%
 
     Shares outstanding                142.9         142.9           141.0
 
 SOURCE  The Meditrust Companies