Reported Earlier, Diversified Healthcare Trust Sells 18 Senior Living Communities to Brookdale for $135M, Plans to Pay Down $941M in Senior Secured Notes
Portfolio Pulse from Benzinga Newsdesk
Diversified Healthcare Trust (DHC) is selling 18 senior living communities to Brookdale Senior Living (BKD) for $135 million. The proceeds will be used to pay down $941 million in senior secured notes. The transaction is expected to close in Q4 2024.
September 30, 2024 | 7:01 am
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POSITIVE IMPACT
Brookdale is acquiring 18 senior living communities from DHC for $135 million, which it has operated since 2003, potentially strengthening its market position.
Brookdale's acquisition of the communities it has been operating since 2003 could strengthen its market position and operational control, likely having a positive short-term impact on its stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
DHC is selling 18 senior living communities to Brookdale for $135 million to pay down $941 million in senior secured notes, enhancing liquidity and reducing leverage.
The sale allows DHC to reduce its debt significantly, which is a positive move for the company's financial health. This transaction is part of DHC's strategy to optimize its portfolio and enhance liquidity, likely leading to a positive short-term impact on its stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100