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Diversified Healthcare Trust Secures Two Financings Totaling $94.3m

NEWTON, Mass. — Diversified Healthcare Trust (DHC), a Massachusetts-based real estate investment trust focused on healthcare properties, has secured two financings totaling $94 million.

The financings include a $64 million five-year mortgage loan and a $30.3 million ten-year Fannie Mae mortgage loan. DHC plans to use the loans to repay the remaining $100 million of the company’s 9.75 percent senior notes due June 2025.

A portfolio of six seniors housing communities managed by Five Star Senior Living secures the financings.

With a fixed interest rate of roughly 6.6 percent, the $64 million loan is secured by four communities totaling 1,079 units. The Fannie Mae loan carries an interest rate of 6.4 percent, with interest-only payments for three years. Two communities comprising 465 units secure the Fannie Mae financing.

DHC’s portfolio totals approximately $6.8 billion and spans 34 states, with 26,000 senior living units. The RMR Group, an alternative asset management company, manages DHC.

Five Star Senior Living is a division of AlerisLife Inc.

The post Diversified Healthcare Trust Secures Two Financings Totaling $94.3M appeared first on Seniors Housing Business.

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Diversified Healthcare Trust Secures Two Financings Totaling $94.3m

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