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Security Profile
- Security Type
- Real Estate Investment Trust (REIT)
- CUSIP
- 25525P107 (prev. 81721M109 )
- Market Cap
- Small Cap
- IPO
- 10/13/1999
- Previous Symbol
- SNH (changed 1/1/2020)
- Previous Name
- Senior Housing Properties Trust
Business: Diversified Healthcare Trust is a real estate investment trust, or REIT, which owns independent living and assisted living communities, continuing care retirement communities, nursing homes, wellness centers and medical office, clinic and biotech laboratory buildings located throughout the United States. The majority of their properties are triple net leased, meaning that each tenant pays them rent and also is responsible to pay all operating costs, taxes, insurance and maintenance costs that arise from the ownership and use of their property.
Notes: January 02, 2020 -- Diversified Healthcare Trust (Nasdaq: DHC) and Five Star Senior Living Inc. (Nasdaq: FVE) today announced that the previously announced restructuring of their business arrangements was completed effective January 1, 2020. Pursuant to the restructuring transaction, the five existing master leases for 166 of DHC’s senior living communities (18,676 living units) that were leased to FVE and the existing management agreements and pooling agreements between DHC and FVE for an additional 77 of DHC’s senior living communities (10,168 living units) have been terminated and replaced with new management agreements for all 243 DHC senior living communities that are operated by FVE. Also pursuant to the restructuring transaction, on January 1, 2020 FVE issued 10,268,158 of its common shares to DHC and an aggregate of approximately 16,119,560 of its common shares to DHC’s shareholders of record as of December 13, 2019. In consideration of these share issuances, DHC paid or assumed $75 million of FVE’s working capital liabilities.
Company Contact
- COO
- Jennifer F. Francis
- CFO
- Richard W. Siedel, Jr.
- Headquarters
- Two Newton Place, 255 Washington Street, Suite 300, Newton, MA 02458
- Phone
- 617-796-8350
- Fax
- 617-796-8349
- Investor Relations
- Michael Kodesch · 617-796-8234 · ir@DHCreit.com