Diversified Healthcare Trust Announces Sale of 18 Triple Net Leased Senior Living Communities to Brookdale for $135 Million, or $154,000 per Unit
DHC Will Use the Proceeds to Pay Down Debt
“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 premium valuation of over
The properties that Brookdale will acquire as part of the transaction include:
Address |
City |
State |
Year Built |
Living Units |
|
Sun City West |
AZ |
1998 |
46 |
|
|
CO |
1998 |
50 |
|
|
FL |
1998 |
42 |
|
|
IN |
1998 |
42 |
4004 & |
Midland |
MI |
1998 |
37 |
1605 & |
Monroe |
MI |
1998 |
38 |
3150 & |
Portage |
MI |
1998 |
93 |
720 & |
Bay City |
MI |
1998 |
38 |
2445 & |
Saginaw |
MI |
1998 |
38 |
|
Eagan |
MN |
1998 |
46 |
305 & |
West |
MN |
1998 |
38 |
2220 & |
Chapel Hill |
NC |
1996 |
92 |
|
Murrysville |
PA |
1998 |
34 |
|
|
PA |
1997 |
24 |
|
|
SC |
1998 |
41 |
|
Columbia |
SC |
1998 |
41 |
|
Maryville |
TN |
1998 |
92 |
|
Goodlettsville |
TN |
1998 |
44 |
The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.
About
DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout
WARNING CONCERNING FORWARD LOOKING STATEMENTS
This 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. For example, this press release states that the transaction is expected to close in the fourth quarter of 2024, and that DHC intends to use the proceeds to pay down debt under its senior secured notes due
Actual results may differ materially from those contained in or implied by DHC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond DHC’s control.
The information contained in DHC’s filings with the
You should not place undue reliance upon forward-looking statements.
Except as required by law, DHC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
A
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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