Diversified Healthcare Trust has closed the previously announced sale of 18 triple-net leased senior living communities to Brookdale Senior Living for $135 million, a valuation of approximately $154,000 per unit. The 18 communities include 876 units located across 10 states.
DHC will use the proceeds from the sale to pay down its senior secured notes due in January 2026. Following this paydown and the previous paydown with the proceeds of the $159 million sale of the MUSE building in San Diego in January, approximately $647 million of these senior secured notes will remain outstanding.
“By divesting of these noncore assets, we are continuing to focus DHC’s portfolio on high-performing communities with significant upside potential. 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,” said Chris Bilotto, president and CEO of DHC.
