Office Properties Income Trust (OPI), a national REIT focused on owning and leasing office properties, has entered into a definitive merger agreement with Diversified Healthcare Trust, through which OPI will acquire all of the outstanding common shares of DHC in an all-share transaction.
DHC shareholders will receive 0.147 shares of OPI for each common share of DHC based on a fixed exchange ratio, resulting in OPI shareholders owning approximately 58 percent of the combined company, and DHC shareholders owning approximately 42 percent of the combined company.
Upon closing of the transaction, OPI plans to change its name to Diversified Properties Trust and will continue to trade on the Nasdaq Stock Market.
“The merger establishes the combined company as a larger, more diversified REIT, better positioned for long-term growth and value creation for OPI shareholders,” said Christopher Bilotto, president and CEO of OPI. “DHC has an attractive portfolio of healt