Senior Housing Properties Trust

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  • Sep. 2, 2014, 7:48 AM
    • In connection with Select Income REITs (NYSE:SIR) $3.1B purchase of Cole Corporate Income Trust, the company is offloading the healthcare properties in CCIT's portfolio (23) to Senior Housing Properties Trust (NYSE:SNH) for $539M.
    • The properties to be purchased by SNH are 100% occupied with average term of 9.5 years. Seventy-two percent of rents are payable by investment grade tenants. The GAAP cap rate is about 6.4%.
    • After the sale of the healthcare assets to SNH, Select will be adding 64 office and industrial properties to its portfolio. The company expects - following closing of the purchase in early 2015 - to boost its quarterly dividend by $0.02 to $0.50 per share.
    • Previously: American Realty's CCIT to be sold to Select Income REIT
    | Sep. 2, 2014, 7:48 AM
Company Description
Senior Housing Properties Trust is a real estate investment trust. It owns and operates independent living and assisted living communities, continuing care retirement communities, nursing homes, wellness centers.
Sector: Financial
Country: United States