Senior Housing sales tied to Five Star arrangement restructuring close

By Caroline Salls

Pittsburgh, Sept. 23 – Senior Housing Properties Trust has completed the sale of the Reliant Medical Group portfolio, which included 13 properties, for a total sales price of $18 million and the sale of a 15-facility skilled nursing portfolio for $8 million, according to a news release.

The trust said the sales were part of its previously announced plan to sell up to $900 million of assets in connection with the restructuring of its business arrangements with Five Star Senior Living Inc.

Net proceeds will be used to repay debt and for general corporate purposes.

The facilities that were sold are located in Massachusetts, Nebraska, Iowa and Kansas.

Based in Newton, Mass., Five Star operates senior living communities.

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