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Senior Housing Properties Trust has completed the sale of four assets for a total of $58 million.
The sales include: A 205,439 square foot property located at 77 Corporate Drive, Bridgewater, NJ for $47.5 million and a portfolio of three senior living communities with a combined 361 units located in South Dakota for $10.5 million.
The sales were part of SNH’s previously announced disposition plan to sell up to $900 million of assets in connection with the restructuring of its business arrangements with Five Star Senior Living Inc. SNH expects to use the proceeds from these sales to repay debt and for general business purposes.
Senior Housing Properties Trust is a real estate investment trust, or REIT, which owns medical office and life science buildings, senior living communities and wellness centers throughout the United States.