Diversified Healthcare Trust (DHC) said Monday it has completed the $159 million sale of Muse, a life science property in San Diego.
The 186,000-square-foot property in Torrey Pines, consisting of three buildings, was 49% leased with an average lease term of over eight years at the time of sale, the company said.
The real estate investment said it plans to use the proceeds to pay down its senior secured notes maturing in January 2026.
The company also said that the sale of 18 triple net leased senior living communities to Brookdale Senior Living (BKD) for $135 million is expected to be completed in Q1.
Shares of Diversified Healthcare Trust were down more than 1% in recent Monday trading.
Price: 2.44, Change: -0.04, Percent Change: -1.81
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