Senior Housing Properties Trust Completes the Sale of the Reliant Medical Group Properties Portfolio & a 15-Facility Skilled ...
23 September 2019 - 10:00PM
Business Wire
Senior Housing Properties Trust (Nasdaq: SNH) today announced
that it has completed the sale of the Reliant Medical Group
portfolio which included 13 properties for an aggregate sales price
of $18 million. Additionally, we completed the sale of a
15-facility skilled nursing portfolio for a combined sales price of
$8 million.
The 13 medical office buildings properties, or MOB’s, and 15
skilled nursing facilities include:
- A 4,400 square foot MOB located at 108 Elm Street, Millbury,
MA.
- A 17,057 square foot MOB located at 176 West Street, Milford,
MA.
- A 57,000 square foot MOB located at 139 Gold Star Boulevard,
Worcester, MA.
- An 11,604 square foot MOB located at 277 East Mountain Street,
Worcester, MA.
- A 21,000 square foot MOB located at 191 May Street, Worcester,
MA.
- A 17,742 square foot MOB located at 370 Lunenburg Street,
Fitchburg, MA.
- Two MOB buildings for 39,718 square feet combined, located at
106 and 112 East Main Street, Westborough, MA.
- A 54,100 square foot MOB located at 630 Plantation Road,
Worcester, MA.
- A 13,804 square foot MOB located at 405/407 Main Street,
Spencer, MA.
- A 35,580 square foot MOB located at 425 N. Lake Street,
Worcester, MA.
- A 49,357 square foot MOB located at 165 Mill Street,
Leominster, MA.
- A 41,065 square foot MOB located at 35 Millbury Street, Auburn,
MA.
- 10 skilled nursing facilities located in Nebraska.
- Four skilled nursing facilities located in Iowa.
- One skilled nursing facility located in Kansas.
The sales were part of SNH’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. Net proceeds will be used for repayment of debt and
general business purposes.
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 The RMR Group Inc.
(Nasdaq: RMR), an alternative asset management company that is
headquartered in Newton, MA.
Warning Concerning
Forward-Looking Statements
This press release contains statements that constitute
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995 and other securities laws.
Also, whenever SNH uses words such as “believe”, “expect”,
“anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and
negatives or derivatives of these or similar expressions, SNH is
making forward-looking statements. These forward-looking statements
are based upon SNH’s present intent, beliefs or expectations, but
forward-looking statements are not guaranteed to occur and may not
occur. Actual results may differ materially from those contained in
or implied by SNH’s forward-looking statements as a result of
various factors. Forward-looking statements involve known and
unknown risks, uncertainties and other factors, some of which are
beyond SNH's control. For example:
- This press release states that SNH expects to sell additional
properties up to $900 million as part of its disposition plan in
connection with the restructuring of its business arrangements with
Five Star Senior Living, Inc. However, additional property sales
may not be completed, and debt levels may not be reduced and could
increase.
The information contained in SNH’s filings with the SEC,
including under “Risk Factors” in SNH’s periodic reports, or
incorporated therein, identifies other important factors that could
cause SNH’s actual results to differ materially from those stated
in or implied by SNH’s forward-looking statements. SNH’s filings
with the SEC are available on the SEC's website at www.sec.gov.
You should not place undue reliance upon forward-looking
statements.
Except as required by law, SNH does not intend to update or
change any forward-looking statements as a result of new
information, future events or otherwise.
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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190923005067/en/
Michael Kodesch, Director, Investor Relations (617) 796-8234
www.snhreit.com
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