NEWTON, MA – Senior Housing Properties Trust has completed the sale of four assets for a total of $58 million.
The sold properties consist of 77 Corporate Drive, a 205,439-square-foot property in Bridgewater, NJ, and a portfolio of three senior living communities, totaling 361 units located in South Dakota. The assets sold for $47.5 million and $10.5 million, respectively.
The sales align with Senior Housing Properties Trust's previously announced strategy to sell up to $900 million in assets, in efforts to restructure its business arrangements with Five Star Senior Living Inc.
Senior Housing Properties Trust intends to utilize the sale's proceeds to repay debt and for general business purposes.
Senior Housing Properties Trust is a REIT, managed by the operating subsidiary of The RMR Group Inc. The REIT focuses on owning medical office buildings, life science buildings, senior living communities and wellness centers throughout the US.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
