Diversified Healthcare Trust Announces Sale of 18 Triple Net Leased Senior Living Communities to Brookdale for $135 Million, or $154,000 per Unit
Diversified Healthcare Trust - Common Shares of Beneficial Interest (DHC)
Company Research
Source: Business Wire
DHC Will Use the Proceeds to Pay Down Debt NEWTON, Mass.--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced it has entered into a purchase and sale agreement with Brookdale Senior Living Inc. (NYSE: BKD) (“Brookdale”) whereby Brookdale will acquire 18 triple net leased senior living communities that Brookdale currently leases from DHC for $135 million. Brookdale has leased and operated these 18 communities since February 2003. The 18 communities include 876 units located across 10 states serving primarily assisted living residents as well as memory care residents. DHC intends to use the proceeds from the transaction to pay down its $941 million of senior secured notes due January 2026.Chris Bilotto, President and Chief Executive Officer of DHC, made the following statement:“This transaction is a further implementation of our ongoing initiatives to optimize our portfolio and enhance our liquidity. The sale opportunistically monetizes this NNN portfolio at a
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DHC
Earnings
- 11/4/24 - Miss
DHC
Sec Filings
- 11/18/24 - Form 8-K
- 11/14/24 - Form 4
- 11/8/24 - Form SC
- DHC's page on the SEC website