Medical Properties Inc. Reports $743,000 Loss

Medical Properties Inc., a troubled Encino real estate investment trust, reported a $743,000 loss for the three months that ended Dec. 31.

A year before, it lost $18.9 million.

Medical Properties said its loss narrowed in the fourth quarter because of a write-down of $18 million in property value in 1991. Its revenue was $186,000, up from $19,000 in the fourth quarter of 1991.

The trust, whose main holdings are a hospital and adjacent medical office building in La Mirada and a medical facility in Oregon, has been nearly without revenue in recent months because it has received little rent from the buildings’ tenants, which are units of Nu-Med Inc. in Encino. However, its revenue increased in the latest quarter because rental payments from the Oregon facility resumed.

The La Mirada hospital has been closed for nearly a year and Medical Properties has been trying to sell the building.

For all of 1992, Medical Properties lost $3.18 million, compared to a $17.6-million loss in 1991. Its revenue, however, was just $557,000, down from $4.01 million.