Newton-MA based Diversified Healthcare Trust announced Monday that the real estate investment trust 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. The firm also sold 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. The firm said it expects to use the proceeds from these sales to repay debt and for general business purposes.
DHC, which changed its name from Senior Housing Properties Trust earlier this year, is scheduled to release the results of its third quarter earnings on Nov. 5.