NEWTON, Mass. — Diversified Healthcare Trust (DHC) has announced the closing of a $135 million portfolio sale.
Originally announced in September of last year, the sale involves the disposition of 18 triple-net leased senior living communities. Totaling 876 units, the properties are located across 10 states.
Brookdale Senior Living acquired the portfolio. Massachusetts-based DHC plans to use the proceeds from the transaction to pay down its senior secured notes due in January 2026.
“By divesting of these non-core assets, we are continuing to focus DHC’s portfolio on high-performing communities with significant upside potential,” says Chris Bilotto, chief executive officer of DHC. “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.”