With the Sept. 30 announcement of six new management agreements, Diversified Healthcare Trust now has entered into new management agreements for a total of approximately 96% of its senior housing operating portfolio communities that are to be transitioned from Five Star Senior Living by the end of the year.
The Newton, MA-based real estate investment trust entered into a new management agreement last week with Navion Senior Solutions for five assisted living communities totaling 259 units in South Carolina. In addition, the REIT entered into a new management agreement with Omega Senior Living for a 69-unit assisted living community in Nebraska.
After 108 senior living communities are transitioned to other operators, Five Star’s focus will be on larger independent living, assisted living and memory care communities as well as stand-alone active adult communities.
