SENIOR HOUSING PROPERTIES TRUST (NASDAQ:SNH) Files An 8-K Regulation FD Disclosure
Item 7.01. Regulation FD Disclosure.
A copy of the press release that we issued announcing the
transactions described in Item 8.01 of this Current Report on
Form8-K is attached as Exhibit99.1.
Item 8.01. Other Events.
On March24, 2017, we entered into a joint venture with a
sovereign institutional investor for our property located in
Boston, Massachusetts which consists of two buildings primarily
leased to Vertex Pharmaceuticals,Inc. The investor has
contributed approximately $261 million for a 45% equity interest
in the joint venture, and we have retained a 55% equity interest
in the joint venture. The investment amount is based upon a
property valuation of $1.2 billion, less $620 million of existing
secured debt on the property. We used the net proceeds from this
transaction to repay a portion of the amounts outstanding under
our revolving credit facility.
We will continue to control this property because our partner in
this joint venture is a passive financial investor. Accordingly,
we expect to consolidate the operating results of this joint
venture in our financial statements and account for the investors
minority equity interest in the joint venture as a
non-controlling interest for financial reporting purposes.
WARNING CONCERNING FORWARD LOOKING STATEMENTS
THIS CURRENT REPORT ON FORM8-K CONTAINS STATEMENTS THAT
CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE
PRIVATE SECURITIES LITIGATION REFORMACT OF 1995 AND OTHER
SECURITIES LAWS. ALSO, WHENEVER WE USE WORDS SUCH AS BELIEVE,
EXPECT, ANTICIPATE, INTEND, PLAN, ESTIMATE, WILL, MAY AND
NEGATIVES OR DERIVATIVES OF THESE OR SIMILAR EXPRESSIONS, WE ARE
MAKING FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING
STATEMENTS ARE BASED UPON OUR PRESENT INTENT, BELIEFS OR
EXPECTATIONS, BUT FORWARD LOOKING STATEMENTS ARE NOT GUARANTEED
TO OCCUR AND MAYNOT OCCUR. ACTUAL RESULTS MAYDIFFER MATERIALLY
FROM THOSE CONTAINED IN OR IMPLIED BY OUR FORWARD LOOKING
STATEMENTS AS A RESULT OF VARIOUS FACTORS. THE INFORMATION
CONTAINED IN OUR FILINGS WITH THE SECURITIES AND EXCHANGE
COMMISSION, OR SEC,INCLUDING UNDER RISK FACTORS IN OUR PERIODIC
REPORTS, OR INCORPORATED THEREIN,IDENTIFIES OTHER IMPORTANT
FACTORS THAT COULD CAUSE OUR ACTUAL RESULTS TO DIFFER MATERIALLY
FROM THOSE STATED IN OR IMPLIED BY OUR FORWARD LOOKING
STATEMENTS. OUR FILINGS WITH THE SEC ARE AVAILABLE ON THE SECS
WEBSITE AT WWW.SEC.GOV. YOU SHOULD NOT PLACE UNDUE RELIANCE UPON
FORWARD LOOKING STATEMENTS. EXCEPT AS REQUIRED BY LAW, WE DO NOT
INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A
RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
|
99.1 |
Press release dated March27, 2017. (Furnished herewith.) |
About SENIOR HOUSING PROPERTIES TRUST (NASDAQ:SNH)
Senior Housing Properties Trust is a real estate investment trust (REIT). The Company operates through four segments: triple net senior living communities that provide short term and long term residential care and other services for residents; managed senior living communities that provide short term and long term residential care and other services for residents; properties leased to medical providers, medical related businesses, clinics and biotech laboratory tenants (MOBs), and all other, which includes the remainder of its operations, including certain properties that offer fitness, wellness and spa services to members. Properties in triple net senior living communities segment include leased independent living communities, assisted living communities and skilled nursing facilities. Properties in managed senior living communities segment include managed independent living communities and assisted living communities. SENIOR HOUSING PROPERTIES TRUST (NASDAQ:SNH) Recent Trading Information
SENIOR HOUSING PROPERTIES TRUST (NASDAQ:SNH) closed its last trading session 00.00 at 20.11 with 1,402,843 shares trading hands.