Senior Housing Properties Trust Announces Closing of Sale of Common Shares of The RMR Group Inc.
02 July 2019 - 8:45AM
Business Wire
Net Proceeds of $98.9 Million Will be Used
to Repay Debt
Sale Price Represents a 283% Total Return on
Investment
Senior Housing Properties Trust (Nasdaq: SNH) today announced it
closed its sale of 2,637,408 Class A Common Shares, or Common
Shares, of The RMR Group Inc. (Nasdaq: RMR) in an underwritten
public offering at a price to the public of $40.00 per Common
Share. SNH received $98.9 million in net proceeds after
underwriting fees and before other offering expenses that it will
use to repay debt.
SNH had a cost basis of $11.52 per Common Share, and with
previously received aggregate cash distributions of $4.13 per
share, SNH’s total return on investment since purchase on June 8,
2015 is approximately 283% before underwriting fees and other
offering expenses.
Senior Housing Properties Trust is a real estate investment
Trust, or REIT, which owns medical office buildings, senior living
communities and wellness centers throughout the United States. SNH
is managed by the operating subsidiary of RMR, an alternative asset
management company that is headquartered in Newton, MA.
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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version on businesswire.com: https://www.businesswire.com/news/home/20190701005898/en/
Michael Kodesch, Director, Investor Relations (617) 796-8234
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