Diversified Healthcare Trust Closes $120 Million Mortgage Loan
The loan is an interest only 10-year mortgage with a 6.864% all-in fixed interest rate. DHC intends to use approximately 50% of the loan proceeds to redeem a portion of its outstanding 9.750% senior notes due 2025. DHC will use the remainder of the loan proceeds to fund capital investments and improve liquidity.
“Today’s announced financing is the first step in executing on our broader financing strategy to lower financing costs, improve weighted average remaining debt term and enhance our liquidity profile.”
The lenders were
WARNING CONCERNING FORWARD-LOOKING STATEMENTS
This press release contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Also, whenever DHC uses words such as “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate”, “will”, “may” and negatives or derivatives of these or similar expressions, DHC is making forward-looking statements. These forward-looking statements are based upon DHC’s present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. DHC currently intends to use approximately 50% of the loan proceeds to redeem a portion of its outstanding 9.75% senior notes due 2025; however, the redemption may not occur or may be delayed. Further, Mr. Brown’s statement regarding DHC’s financing strategy may imply that DHC will be able to sustain and improve its liquidity; however, DHC may not be able to execute on its financing strategies or have sufficient liquidity available to fund its capital needs. Actual results may differ materially from those contained in or implied by DHC’s forward-looking statements. Forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond DHC’s control.
The information contained in DHC’s filings with the
You should not place undue reliance upon forward-looking statements.
Except as required by law, DHC does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.
About
DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout
A
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240530930388/en/
(617) 231-3017
Source: