Brief: Diversified Healthcare Trust Announces $703 Mln Joint Venture

Diversified Healthcare Trust

31/01/2022 12:07

Jan 31 (Reuters) - Diversified Healthcare Trust  DHC.O :
    * DIVERSIFIED HEALTHCARE TRUST ANNOUNCES $703 MILLION JOINT
VENTURE FOR 10 PROPERTIES IN ITS OFFICE PORTFOLIO SEGMENT
    * DIVERSIFIED HEALTHCARE TRUST - DHC TO RECEIVE CASH
PROCEEDS OF
APPROXIMATELY $653 MILLION AND RETAIN A 20% EQUITY INTEREST IN
JOINT VENTURE
    * DIVERSIFIED HEALTHCARE TRUST - SELLING 80% JV EQUITY
INTEREST AT
A 4.98% CAPITALIZATION RATE AND EXPECTED GAIN ON SALE OF
APPROXIMATELY $320 MILLION
    * DIVERSIFIED HEALTHCARE TRUST - EXPECTS TO USE CASH
PROCEEDS FROM
THIS TRANSACTION TO FUND CAPITAL EXPENDITURES, TO REDUCE
OUTSTANDING INDEBTEDNESS

Source text for Eikon:  ID:nBw37398Ja 
Further company coverage:  DHC.O 

 ((Reuters.Briefs@thomsonreuters.com;))