Diversified Healthcare Trust enter purchase, sale agreement with Brookdale

Diversified Healthcare Trust (DHC) has entered into a purchase and sale agreement with Brookdale Senior Living Inc. (BKD) whereby Brookdale will acquire 18 triple net leased senior living communities that Brookdale currently leases from DHC for $135 million. Brookdale has leased and operated these 18 communities since February 2003. The 18 communities include 876 units located across 10 states serving primarily assisted living residents as well as memory care residents. DHC intends to use the proceeds from the transaction to pay down its $941 million of senior secured notes due January 2026.The transaction is expected to close in the fourth quarter of 2024, subject to customary closing conditions.