Diversified Healthcare Trust Completes Sale of 18 Triple Net Leased Senior Living Communities to Brookdale for $135 Million, or $154,000 per Unit
DHC to Use the Proceeds to Pay Down Senior Secured Notes Due January 2026
DHC will use the proceeds from the sale to pay down its senior secured notes due in January 2026. Following this pay down and the previous pay down with the proceeds of the
Chris Bilotto, President and Chief Executive Officer of DHC, commented:
“By divesting of these non-core assets, we are continuing to focus DHC’s portfolio on high-performing communities with significant upside potential. The proceeds from this transaction will enable us to reduce our leverage, positioning us more favorably to capitalize on future opportunities that can further enhance shareholder value.”
About Diversified Healthcare Trust
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 DHC will use the proceeds from the sale of 18 triple-net leased senior living communities to pay down its senior secured notes due January 2026, and that the sale will allow DHC to reduce leverage and position it to invest in opportunities that further enhance shareholder value. However, DHC may not be able to successfully use the proceeds from this sale as it currently intends to reduce its debt and, as a result, DHC may be unable to reduce leverage or invest in opportunities that further enhance shareholder value.
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 Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in DHC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from DHC’s forward-looking statements. DHC’s filings with the SEC are available on the SEC’s website at www.sec.gov.
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 Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
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Timothy Bonang, Senior Vice President
(617) 796-8234
www.dhcreit.com
Source: Diversified Healthcare Trust