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Diversified Healthcare Trust Completes the Sale of Four Assets for a Combined Sales Price of Approximately $53 Million
Sales Include Three Senior Living Communities and One Medical Office Building NEWTON, Mass.--(BUSINESS WIRE)-- Diversified Healthcare Trust (Nasdaq: DHC) has
About this update from Diversified Healthcare Trust
[{"type":"text","content":"\nSales Include Three Senior Living Communities and One Medical Office Building\n\n NEWTON, Mass.--(BUSINESS WIRE)--\nDiversified Healthcare Trust (Nasdaq: DHC) has completed the previously announced sale of four assets for a combined sales price of approximately $53 million.\n\nThese sales include:\n\n\nA portfolio of three senior living communities with a combined 239 units located in Washington and Montana for $46 million.\n\n\nA 78,747 square foot medical office property located in Hattiesburg, MS for approximately $7.3 million.\n\n\nThese sales were part of DHC’s previously announced disposition plan to sell up to $900 million of assets in connection with the restructuring of its business arrangements with Five Star Senior Living Inc. DHC expects to use the proceeds from these sales to repay debt and for general business purposes.\n\nDiversified Healthcare Trust (Nasdaq: DHC) is a real estate investment trust (REIT) 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 June 30, 2020, DHC’s $8.3 billion portfolio included 412 properties in 38 states and Washington, D.C., occupied by more than 600 tenants, and totaling approximately 12 million square feet of medical office and life science properties and more than 30,000 living units. DHC is managed by the operating subsidiary of The RMR Group Inc., an alternative asset management company that is headquartered in Newton, MA. To learn more about DHC, visit www.dhcreit.com.\n\nWARNING REGARDING FORWARD-LOOKING STATEMENTS\n\nThis press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever DHC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, DHC is making forward-looking statements. These forward-looking statements are based upon DHC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may differ materially from those contained in or implied by DHC’...