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  • Professor Andrea M. Armani, University of Southern California
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  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Diversified Healthcare Trust Closes a New $150 Million Secured Revolving Credit Facility

Transaction Further Enhances DHC’s Liquidity and Leverages Attractive SHOP Assets

Diversified Healthcare Trust (Nasdaq: DHC) today announced the closing of a new $150 million secured revolving credit facility. The facility is secured by 14 senior housing communities with 2,632 living units managed by Five Star Senior Living, the operating division of AlerisLife Inc., and provides DHC with enhanced liquidity to support its general business needs.

The revolving credit facility has an initial term of four years, with two six-month extension options, subject to certain conditions, and bears interest at a rate equal to SOFR plus a spread of 250 to 300 basis points, depending on DHC’s net leverage ratio. In connection with the financing, the average per unit valuation of the communities was approximately $184,000.

Matt Brown, Chief Financial Officer and Treasurer of DHC, made the following statement:

“Having already repaid our 2025 notes in full with refinancing and asset sale proceeds, this new revolving credit facility strengthens our liquidity and financial flexibility. We also believe the average per unit valuation illustrates the high quality of our senior living assets. We greatly appreciate our lenders continued support as we advance our long-term strategy.”

Citibank, N.A. served as Administrative Agent, Lead Arranger and Book Running Manager. Bank of America, N.A., Morgan Stanley Bank, N.A., PNC Bank, National Association and Royal Bank of Canada acted as Co-Documentation Agents.

About Diversified Healthcare Trust

DHC is a real estate investment trust focused on owning high-quality healthcare properties located throughout the United States. DHC seeks diversification across the health services spectrum by care delivery and practice type, by scientific research disciplines and by property type and location. As of March 31, 2025, DHC’s approximately $6.8 billion portfolio included 343 properties in 34 states and Washington, D.C., with more than 26,000 senior living units, approximately 7.6 million square feet of medical office and life science properties and occupied by approximately 450 tenants. DHC is managed by The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $40 billion in assets under management as of March 31, 2025 and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. DHC is headquartered in Newton, MA. For more information, visit www.dhcreit.com.

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. For example, the statements in this press release regarding DHC’s portfolio and liquidity may imply that DHC will continue to have strengthened liquidity, attractive asset valuations and financial flexibility. However, DHC may not be able to maintain its liquidity to support its general business needs and/or be successful in advancing its long-term capital strategy.

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 SEC, including under the caption “Risk Factors” in DHC’s periodic reports, or incorporated therein, identifies other important factors that could cause differences from DHC’s forward-looking statements. DHC’s filings with the SEC are available on the SEC’s website at www.sec.gov.

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.‎

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the Nasdaq.

No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Contacts

Bryan Maher, Senior Vice President

(617) 796-8234

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