NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) has completed the previously announced sale of four assets for a combined sales price of approximately $53.3 million.
These sales include a portfolio of three senior living communities with a combined 239 units in Washington and Montana for $46 million. The remaining asset, a 78,747-square-foot medical office property in Hattiesburg, Mississippi, sold for approximately $7.3 million.
Details on the buyers and names of the properties were not disclosed.
These sales were part of Newton-based 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 Inc. DHC expects to use the proceeds from these sales to repay debt and for general business purposes.