Business
Senior Housing Properties Trust Completes the Sale of One Building from our MOB Segment and a Portfolio of Three Senior Living Assets for a Combined $58 Million
NEWTON, Mass.--(BUSINESS WIRE)-- Senior Housing Properties Trust (Nasdaq: SNH) today announced that it has completed the sale of four assets for a total of
About this update from Diversified Healthcare Trust
[{"type":"text","content":" NEWTON, Mass.--(BUSINESS WIRE)--\nSenior Housing Properties Trust (Nasdaq: SNH) today announced that it has completed the sale of four assets for a total of $58 million.\n\n\nThe sales include:\n\n\n\nA 205,439 square foot property located at 77 Corporate Drive, Bridgewater, NJ for $47.5 million.\n\n\nA portfolio of three senior living communities with a combined 361 units located in South Dakota for $10.5 million.\n\n\n\nThe sales were part of SNH’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. SNH expects to use the proceeds from these sales to repay debt and for general business purposes.\n\n\nSenior Housing Properties Trust is a real estate investment trust, or REIT, which owns medical office and life science buildings, senior living communities and wellness centers throughout the United States. SNH is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq: RMR), an alternative asset management company that is headquartered in Newton, MA.\n\n\nWarning Concerning Forward-Looking Statements\n\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 SNH uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, SNH is making forward-looking statements. These forward-looking statements are based upon SNH’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 SNH’s forward-looking statements as a result of various factors. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond SNH's control. For example:\n\n\n\nThis press release states that the asset sales announced today were part of SNH’s previously approved disposition plan to sell up to $900 million of assets. SNH cannot be sure that it will be able to sell additional assets or that any additional assets it may sell, when combined with proceeds from previous sales, will aggregate $900 million. F...