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 […]

Why the AlerisLife Saga is a Cautionary Tale for Senior Living

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 […]

Five Star C-Suite Shakeup Continues with New CFO

Five Star Senior Living (Nasdaq: FVE) is shaking up its executive ranks again, two days before releasing its Q1 2019 earnings report. The Newton, Massachusetts-based senior living owner and operator announced the appointment of Jeffrey C. Leer as Executive Vice President, Chief Financial Officer and Treasurer. Leer will assume his duties June 1. He succeeds […]

Senior Housing Properties Trust Saw ‘Stable’ 2017

Senior Housing Properties Trust (NYSE: SNH) had a decent year in 2017 despite facing a few headwinds in the fourth quarter, the company’s CEO said during its fourth-quarter earnings call Tuesday. The Newton, Massachussets-based real estate investment trust (REIT) logged a normalized funds from operations (FFO) of $59.2 million, or 25 cents per share, for the fourth […]

SNH Acquires 7-Property Five Star Assisted Living Portfolio

Real estate investment trust Senior Housing Properties Trust (NYSE: SNH) has executed a $112.4 million sale-leaseback with Five Star Quality Care (NYSE: FVE) for a portfolio of seven assisted living communities, the two companies announced Wednesday. SNH also has amended its agreements over management fees for communities in the REIT’s portfolio that are managed by […]