Business

Diversified Healthcare Trust (NASDAQ: DHC) Management Transition in Progress

Diversified Healthcare Trust (NASDAQ: DHC) announced that the company has entered into a new management agreement with Stellar Senior Living for nine skilled nursing communities. In addition, it will also include one continuing care retirement community totaling 1,152 units in Colorado, Texas, within its SHOP (Senior Housing Operating Portfolio).

The company is selling skilled nursing bed licenses in the states where it is permitted.

Diversified Healthcare Trust is a (REIT) real estate investment trust that aims to own high-quality healthcare properties throughout the United States.  In addition, the company signed a management agreement with Stellar Senior Living for nine skilled nursing communities. The new management agreements represent around 70% of the Senior Housing Operating Portfolio communities transferred from the Five Star Senior Living Inc. (NASDAQ: FVE) to the third-party operators. The company expects to complete the management transition progress at the 108 transitioning communities by the year-end.

In line with the vision to achieve the strategy, the company also announced the sale of 10 skilled nursing bed licenses retired from use. The first of its plan is to sell 542 rights to operate skilled nursing beds in the states. The place where the sale and transfer of bed licenses are permitted.

The company is looking to diversify across the health services spectrum.

Diversified Healthcare Trust is a REIT (real estate investment trust) focused on owning high-quality healthcare properties throughout the United States. In addition, the company is also seeking diversification across the health services spectrum. It will consist of care delivery and practice type, property type and location, and scientific research disciplines. As of March 31, 2021, the company’s portfolio of $8.2 billion includes 396 properties in 36 states and Washington, D.C. The current portfolio set is occupied by over 600 tenants, spread across around 11.2 million square feet. The RMR Group’s operating subsidiary manages the operation of Diversified Healthcare Trust.

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