Diversified Healthcare, Office Properties Income Trust Call Off Planned Merger

The merger between Diversified Healthcare Trust (Nasdaq: DHC) and Office Properties Income Trust (Nasdaq: OPI) has been called off, according to a news release issued late Friday afternoon. In April, the companies announced the proposed merger that would have seen OPI acquire all the outstanding common shares from DHC to create a combined entity called […]

Diversified Healthcare Announces ‘Event of Default’ On $450M Credit Facility

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 […]

[Updated] Diversified Healthcare Trust to Merge with Office Properties Income Trust

Diversified Healthcare Trust (Nasdaq: DHC) is merging with Office Properties Income Trust (Nasdaq: OPI), the companies announced this morning. The deal will see OPI acquire all the outstanding common shares of DHC to create a combined entity to be called Diversified Properties Trust. Under the deal, Diversified shareholders will receive 0.147 shares of OPI for […]

Nasdaq Warns Diversified Healthcare Trust to Raise Share Price or Face Delisting

Diversified Healthcare Trust (Nasdaq: DHC) has received a warning from the Nasdaq Stock Market to boost its stock price above $1 per share or face delisting from the index. That’s according to a Jan. 23 public filing from the Newton, Massachusetts-based real estate investment trust (REIT). As is standard when companies face delisting warnings, the […]

10 Most-Read Senior Housing News Stories of 2022

While many senior living providers continued the long march towards a pandemic recovery, the industry saw operators innovate with new development, and familiar players in the space face new challenges in 2022. Tackling the “quiet quitting” labor issue and reports of a Brookdale Senior Living (NYSE: BKD) sale led to the most-read top stories on […]

AlerisLife Restructuring On Track as Stabilizing Operations Remains Top Focus

AlerisLife’s (Nasdaq: ALR) restructuring plan is well underway as the company continues to tighten and turn around its operations with its operating margins in mind. The restructuring plan, which is expected to be completed in mid-2023, is aimed at reducing general and administrative costs, enhancing accountability and better supporting the company’s employees, according to management. […]

AlerisLife to Cut Corporate Positions, Overhaul Operations as Part of Restructuring Plan

AlerisLife (Nasdaq: ALR) is cutting some corporate overhead positions and retooling its operations as part of a restructuring effort that is just getting underway. The Newton, Massachusetts-based senior living operator announced the effort in its second-quarter earnings release this week. The restructuring plan, slated to wrap up in the middle of next year, is aimed […]