logo
  

DHC, Five Star Agree To Transition Management Of 108 Senior Living Communities To Other Operators

Diversified Healthcare Trust (DHC) has agreed to amend its management arrangements with Five Star Senior Living Inc. (FVE) for DHC's senior housing operating portfolio. As per the amendment, Five Star will cooperate with DHC in transitioning 108 senior living communities to other operators without payment of any termination fee by DHC. The transition of management to other operators is estimated to be completed before year end 2021.

DHC will no longer have the right to sell up to $682 million worth of senior living communities and terminate Five Star's management of those communities without the payment of a fee. Five Star will continue to manage 120 senior living communities for DHC.

The companies also announced that the term of the management agreements will be
extended by two years to December 31, 2036.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
When Can We Expect Starlink to Go Public? This question got an answer from Tesla and SpaceX CEO Elon Musk, who said he will only publicly list SpaceX's satellite internet service Starlink when its revenue is more predictable. Musk was responding to a users tweet, "Any thoughts on Starlink IPO we would love to invest in the future. Any thoughts on first dibs for Tesla retail investors?" John David McAfee, who founded the antivirus software company McAfee Associates, has been found dead in a prison cell in Spain shortly after a Spanish court agreed to extradite him to the US to face tax evasion charges, multiple reports said. He was arrested in Spain in October 2020 after being accused of failing to file tax returns for four years. While reporting financial results for the first quarter of fiscal 2022 on Thursday, drugstore chain Rite Aid Corp. (RAD) initiated its adjusted loss and total revenue guidance for the full-year 2022, below analysts' estimates. For fiscal 2022, the company now projects an adjusted loss in a range...
RELATED NEWS
Follow RTT