Diversified Healthcare Trust (Nasdaq: DHC) has announced an “event of default” on its $450 million credit facility. The credit facility in question required Diversified to maintain collateral properties at an appraised aggregate value of $1.09 billion. But the value of the REIT’s properties declined from $1.34 billion to $1.05 million following a reappraisal of 61 […]
ABP Acquisition LLC
Last Friday, AlerisLife management announced that the company is being sold to another firm led by Managing Director and Board Chair Adam Portnoy. The company’s board has agreed to sell the company to Portnoy’s firm, ABP Acquisition, for $1.31 per share in cash, or approximately $43.8 million. With the sale, AlerisLife will be taken private […]
Publicly traded senior living company AlerisLife (Nasdaq: ALR) is being sold to a firm majority owned and controlled by Adam Portnoy, who is also CEO of the RMR Group. “Adam and I agree that being a privately owned rather than a publicly traded company will allow us to enhance our focus on operational excellence and […]
ABP Acquisition LLC Announces Tender Offer Results for Five Star Shares On Nov. 11, ABP Acquisition LLC announced the results of its tender offer to buy as many as 18 million shares of Five Star Quality Care, Inc. (Nasdaq: FVE) at a purchase price of $3.00 per share, net to the seller in cash, without […]
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