NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) has completed the previously announced sale of four assets for a combined sales price of approximately $53 million.
These sales include:
- A portfolio of three senior living communities with a combined 239 units located in Washington and Montana for $46 million.
- A 78,747 square foot medical office property located in Hattiesburg, MS for approximately $7.3 million.
These 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.
Diversified 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.
