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Diversified Healthcare Trust Completes Sale of 18 Triple Net Leased Senior Living Communities to Brookdale for $135 Million, or $154,000 per Unit
DHC to Use the Proceeds to Pay Down Senior Secured Notes Due January 2026 NEWTON, Mass.--(BUSINESS WIRE)-- Diversified Healthcare Trust (Nasdaq: DHC) today
About this update from Diversified Healthcare Trust
[{"type":"text","content":"\nDHC to Use the Proceeds to Pay Down Senior Secured Notes Due January 2026\n\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nDiversified Healthcare Trust (Nasdaq: DHC) today announced the closing of the previously announced sale of 18 triple-net leased senior living communities to Brookdale Senior Living Inc. (NYSE: BKD) for $135 million, a valuation of approximately $154,000 per unit. The 18 communities include 876 units located across 10 states.\n\n\nDHC will use the proceeds from the sale to pay down its senior secured notes due in January 2026. Following this pay down and the previous pay down with the proceeds of the $159.0 million sale of the MUSE building in San Diego in January, approximately $647 million of these senior secured notes will remain outstanding.\n\n\nChris Bilotto, President and Chief Executive Officer of DHC, commented:\n\n\n“By divesting of these non-core assets, we are continuing to focus DHC’s portfolio on high-performing communities with significant upside potential. The proceeds from this transaction will enable us to reduce our leverage, positioning us more favorably to capitalize on future opportunities that can further enhance shareholder value.”\n\n\nAbout Diversified Healthcare Trust\n\n\nDHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of December 31, 2024, DHC’s approximately $7.2 billion portfolio included 367 properties in 36 states and Washington, D.C., occupied by approximately 450 tenants, and totaling approximately 8.0 million square feet of life science and medical office properties and more than 27,000 senior living units. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with over $40 billion in assets under management as of December 31, 2024 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.\n\n\nWARNING CONCERNING FORWARD LOOKING STATEMENTS\n\n\nThis press release contains statements that constitute forward-looking statements within the meaning of the ...