Business
Senior Housing Properties Trust Completes the Sale of the Reliant Medical Group Properties Portfolio and a 15-Facility Skilled Nursing Portfolio for a Combined $26 Million
NEWTON, Mass.--(BUSINESS WIRE)-- Senior Housing Properties Trust (Nasdaq: SNH) today announced that it has completed the sale of the Reliant Medical Group
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 the Reliant Medical Group portfolio which included 13 properties for an aggregate sales price of $18 million. Additionally, we completed the sale of a 15-facility skilled nursing portfolio for a combined sales price of $8 million.\n\n\nThe 13 medical office buildings properties, or MOB’s, and 15 skilled nursing facilities include:\n\n\n\nA 4,400 square foot MOB located at 108 Elm Street, Millbury, MA.\n\n\nA 17,057 square foot MOB located at 176 West Street, Milford, MA.\n\n\nA 57,000 square foot MOB located at 139 Gold Star Boulevard, Worcester, MA.\n\n\nAn 11,604 square foot MOB located at 277 East Mountain Street, Worcester, MA.\n\n\nA 21,000 square foot MOB located at 191 May Street, Worcester, MA.\n\n\nA 17,742 square foot MOB located at 370 Lunenburg Street, Fitchburg, MA.\n\n\nTwo MOB buildings for 39,718 square feet combined, located at 106 and 112 East Main Street, Westborough, MA.\n\n\nA 54,100 square foot MOB located at 630 Plantation Road, Worcester, MA.\n\n\nA 13,804 square foot MOB located at 405/407 Main Street, Spencer, MA.\n\n\nA 35,580 square foot MOB located at 425 N. Lake Street, Worcester, MA.\n\n\nA 49,357 square foot MOB located at 165 Mill Street, Leominster, MA.\n\n\nA 41,065 square foot MOB located at 35 Millbury Street, Auburn, MA.\n\n\n10 skilled nursing facilities located in Nebraska.\n\n\nFour skilled nursing facilities located in Iowa.\n\n\nOne skilled nursing facility located in Kansas.\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. Net proceeds will be used for repayment of debt and general business purposes.\n\n\nSenior Housing Properties Trust is a real estate investment Trust, or REIT, which owns medical office 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 meanin...