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Business Wire
02-06-2025
- Business
- Business Wire
Diversified Healthcare Trust Closes $94 Million of Mortgage Financings Secured by Six SHOP Communities
NEWTON, Mass.--(BUSINESS WIRE)-- Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has closed two fixed rate mortgage financings totaling $94.3 million, secured by six senior housing communities managed by Five Star Senior Living, the operating division of AlerisLife Inc. The financings consist of a $64.0 million five-year mortgage loan and a $30.3 million ten-year Fannie Mae mortgage loan. Proceeds from these loans, together with cash on hand, will be used to repay the remaining $100.0 million of DHC's 9.75% senior notes due June 2025. The $64.0 million loan bears a fixed interest rate of 6.57% and is secured by four communities consisting of 1,079 units with an appraised value per unit of approximately $171,000. The Fannie Mae loan bears a fixed interest rate of 6.36%, is interest only for the first three years, and is secured by two communities consisting of 465 units with an appraised value of approximately $142,000 per unit. Based on the 2024 NOI of the six collateral communities, the appraised value reflects an implied cap rate of 5.8%, or approximately $162,000 per unit. Since March 2025, DHC has closed on an aggregate of $343.0 million of mortgage financings secured by 27 SHOP communities. On a combined basis, these financings reflect an average per unit valuation of approximately $174,000 and a weighted average interest rate of 6.55%. Matt Brown, Chief Financial Officer and Treasurer of DHC, made the following statement: 'Now that we have completed the financings to repay our 2025 notes with attractive valuations for the collateral assets, we are turning our attention to paying off the balance of our 2026 note. We plan to address this maturity with proceeds from a combination of $330.0 million to $380.0 million of asset sales, and new financings.' 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 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, DHC believes it should be able to pay off the balance of its senior secured notes due 2026 by the end of 2025 through additional asset sales and new financings. However, DHC may not be able to sell additional assets or execute on new financings on the timelines or terms it expects or at all. As a result, DHC may not be able to pay off the balance of its senior secured notes due 2026 by the end of 2025. 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 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.
Yahoo
02-06-2025
- Business
- Yahoo
Diversified Healthcare Trust Closes $94 Million of Mortgage Financings Secured by Six SHOP Communities
Financing Proceeds and Cash on Hand Will Repay in Full the Remaining Outstanding June 2025 Senior Notes NEWTON, Mass., June 02, 2025--(BUSINESS WIRE)--Diversified Healthcare Trust (Nasdaq: DHC) today announced that it has closed two fixed rate mortgage financings totaling $94.3 million, secured by six senior housing communities managed by Five Star Senior Living, the operating division of AlerisLife Inc. The financings consist of a $64.0 million five-year mortgage loan and a $30.3 million ten-year Fannie Mae mortgage loan. Proceeds from these loans, together with cash on hand, will be used to repay the remaining $100.0 million of DHC's 9.75% senior notes due June 2025. The $64.0 million loan bears a fixed interest rate of 6.57% and is secured by four communities consisting of 1,079 units with an appraised value per unit of approximately $171,000. The Fannie Mae loan bears a fixed interest rate of 6.36%, is interest only for the first three years, and is secured by two communities consisting of 465 units with an appraised value of approximately $142,000 per unit. Based on the 2024 NOI of the six collateral communities, the appraised value reflects an implied cap rate of 5.8%, or approximately $162,000 per unit. Since March 2025, DHC has closed on an aggregate of $343.0 million of mortgage financings secured by 27 SHOP communities. On a combined basis, these financings reflect an average per unit valuation of approximately $174,000 and a weighted average interest rate of 6.55%. Matt Brown, Chief Financial Officer and Treasurer of DHC, made the following statement: "Now that we have completed the financings to repay our 2025 notes with attractive valuations for the collateral assets, we are turning our attention to paying off the balance of our 2026 note. We plan to address this maturity with proceeds from a combination of $330.0 million to $380.0 million of asset sales, and new financings." 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 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, DHC believes it should be able to pay off the balance of its senior secured notes due 2026 by the end of 2025 through additional asset sales and new financings. However, DHC may not be able to sell additional assets or execute on new financings on the timelines or terms it expects or at all. As a result, DHC may not be able to pay off the balance of its senior secured notes due 2026 by the end of 2025. 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 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 shareholder, Trustee or officer is personally liable for any act or obligation of the Trust. View source version on Contacts Bryan Maher, Senior Vice President(617) 796-8234
Yahoo
29-05-2025
- Business
- Yahoo
We Need a Farm System for American Jobs
A young football player gets ready to hike a football. Credit - Matt Brown—Getty Images America has a talent pipeline problem. Not in sports—we've got that covered. From the moment a kid picks up a football, we've built an entire ecosystem to scout, train, and elevate them through high school, college, and into the pros. It's a structured path from raw talent to professional achievement. But when it comes to preparing young Americans for jobs in the industries that actually drive our economy—healthcare, tech, finance, real estate, the professions and trades, advanced manufacturing, AI—we've got nothing close to that same focus and program. And that is a massive missed opportunity. We don't just need to fix what's broken—we need to build what's missing. What I'm proposing is simple: a farm club system for American jobs of the future. A national pipeline—backed by private enterprise and public policy—that starts in K-12 and follows a young person all the way into a career with dignity, purpose, and a paycheck. Because here's the truth: while politicians argue over immigration and trade policy, the real threat to American economic dominance is internal. It's our failure to prepare the next generation for the economy that's coming. We're short millions of skilled workers — not because Americans aren't willing to work, but because we haven't shown them where the jobs are, how to get them, and why they matter. We've disconnected our education system from our economic engine. Right now, we let young people stumble through the most important years of their lives with little real-world guidance. They graduate from high school (sometimes) and are left to figure it out on their own. Some go to college and rack up debt. Others go straight to work, but too often in low-wage, low-growth jobs that don't match their talents. This isn't just inefficient. It's a national liability. The good news? We already know how to build a farm system. We've done it in professional sports. We've done it in the military. We've done it in music and the arts. The missing piece is vision and leadership—and belief. We have to believe in young people as assets, not problems. And we have to organize our economy to cultivate their potential from an early age. That means starting in elementary school with exposure: showing kids what's possible beyond their neighborhoods. It means bringing business leaders into classrooms — not just for speeches, but for partnerships. Real apprenticeships. Real mentorships. Real pathways. Like right here at Operation HOPE, and specifically the AI Ethics Council that Sam Altman and I co-chair, and its new AILP3 – which is a AI learning pipeline for young people from elementary school through college in Atlanta, where I live, a partnership with Mayor Andre Dickens, Atlanta Public Schools and Georgia State University and it's Robinson College of Business. This is a focus Ph.D and too. By middle school, we should be identifying interests and aptitudes—whether it's coding, caregiving, carpentry, or clean energy—and channeling them into hands-on experiences. By high school, students should be plugged into sector-specific programs that align with real industries in their region, whether that's aerospace in Atlanta, robotics in Pittsburgh, or renewable energy in Texas. And by the time they graduate, they should have credentials, not just diplomas. A line of sight into a career, not just a hope and a prayer. This isn't about eliminating college. It's about making it one of many valid routes — not the only one. We need to dignify the skilled trades again. We need to champion community colleges and technical schools. We need to stop telling young people that success looks only one way. We also need business to step up. Not just with donations—with hiring commitments, onramps and training investments. The companies of the future can't just be headquartered in America. They need to be rooted in American talent. That means betting on the 15-year-old in Detroit just as seriously as we bet on the five-star recruit in Alabama. And government has a role, too. We need federal and state policies that incentivize school-to-career partnerships, reward innovation in workforce education, and fund modern infrastructure that connects schools, employers, and community-based organizations. This is how we close the skills gap. This is how we rebuild a middle class that's been eroded for decades. And this is how we future-proof America—by investing in our own people. The world isn't waiting for us to figure this out. China, Singapore, and South Korea are investing in its next generation. And we're still debating whether shop class belongs in school. Let's build a workforce farm system that rivals anything we've ever done in sports. Let's treat our young people like draft picks—not dropouts. Let's give them a bench, a coach, and a playbook for the game of life. That's how you raise up a nation. That's how you grow GDP. That's how you win the future. Contact us at letters@
Yahoo
20-05-2025
- Business
- Yahoo
Seven Hills Realty Trust to Present at Nareit's REITweek 2025 Investor Conference on Wednesday, June 4th
NEWTON, Mass., May 20, 2025--(BUSINESS WIRE)--Seven Hills Realty Trust (Nasdaq: SEVN) today announced that President and Chief Investment Officer Tom Lorenzini and Chief Financial Officer and Treasurer Matt Brown will be presenting at Nareit's REITweek 2025 Investor Conference in New York, NY on Wednesday, June 4, 2025 at 10:15 a.m. Eastern Time. A live audio webcast of the presentation will be available in a listen-only mode on the company's website at Participants wanting to access the webcast should visit the company's website about 15 minutes before the start of the presentation. About Seven Hills Realty Trust Seven Hills Realty Trust (Nasdaq: SEVN) is a real estate investment trust, or REIT, that originates and invests in first mortgage loans secured by middle market transitional commercial real estate. SEVN is managed by Tremont Realty Capital, an affiliate of The RMR Group (Nasdaq: RMR), a leading U.S. alternative asset management company with approximately $40 billion in assets under management and more than 35 years of institutional experience in buying, selling, financing and operating commercial real estate. For more information about SEVN, please visit A Maryland Real Estate Investment Trust with transferable shares of beneficial interest listed on the shareholder, Trustee or officer is personally liable for any act or obligation of the Trust. View source version on Contacts Matt Murphy, Manager, Investor Relations(617) Sign in to access your portfolio
Boston Globe
18-05-2025
- Sport
- Boston Globe
Matt Brown, paralyzed in a high school hockey game 15 years ago, is finding his groove
The answer surprised even Brown himself. 'While the answer is always yes, it would be harder to hit that reset button than most people think,' Matt Brown said. 'Because I wouldn't be able to do what I'm doing now.' Fifteen years after he was paralyzed after crashing into the boards while playing hockey for Norwood High, Brown believes the accident that robbed him of so much has given him a perspective he never would have had if he hadn't been paralyzed. Advertisement People spend years, sometimes a lifetime, trying to figure out their purpose. What were they put on this earth for? From his wheelchair, Matt Brown can see higher and further than most. His purpose is, quite simply, to help others. The 'Not exactly the optimum time,' he concedes. Five years later, the foundation is, like Brown himself, finding its groove. It has distributed some $300,000 in grants to people who are living with paralysis, paying for accessible vehicles, home modifications, essential equipment. Besides donors, an annual golf tournament and the Falmouth Road Race are big fund-raising tools. This year, the foundation gained charity status with the Boston Marathon, allowing it to field runners, opening a new revenue source that Brown hopes will allow it to distribute even more grants to more people. Advertisement The grants change little things, changing lives. They renovated a bathroom for a guy on the South Shore who hadn't been able to shower since his accident a year before. They bought a standing frame for a man so he could be vertical in his Quincy home. Not long ago, Brown got a call from the folks at the Little Mustangs Preschool Academy in Norwood, about two miles from his house. One of the students there, a 4-year-old boy, is paraplegic. When his classmates went out to recess, all the boy could do was watch them from his wheelchair, because the playground equipment wasn't accessible to him. Brown's foundation paid for an adaptive swing, and on Tuesday, Brown watched as the boy called his parents over to push him in that swing for the first time. The boy's classmates made cards for Brown, thanking him in eight different languages. 'To see that little boy smile,' Brown said, 'to see his parents smile, I can't even explain what that feels like.' He lives in the house he grew up in, with his parents, Mike and Sue. His parents met in the sixth grade. Sue's maiden name is Brown, same as Mike's, so they like to say Mike took her name when they got married. Matt Brown would like to get a place of his own some day. But he can't imagine leaving Norwood. The town, and its people, always had his back. Advertisement Next month, he'll be the best man at the wedding of his childhood friend Austin Glaser, a Norwood police officer who was his roommate at Stonehill College. Brown has been working on his speech for ages, trying to get it down from a half-hour to five minutes. He has also remained close to Tyler Piacentini, the Weymouth High player whose check sent Brown crashing headfirst into the boards at Pilgrim Skating Arena in Hingham in 2010. He never blamed Piacentini, saying it was 'just two guys going for the puck.' Last year, he did doughnuts in his wheelchair on the dance floor at Piacentini's wedding in Nashville. On Wednesday, Brown was sitting in his driveway. As he does three days a week, he had just spent more than two hours at the gym at Journey Forward, a nonprofit in Canton that helps those with spinal cord injuries. He regularly works out there alongside his friends, hockey players who suffered similar spinal cord injuries: Jake Thibeault, who was paralyzed in 2021 while playing for Milton Academy; AJ Quetta, who was paralyzed in 2021 while playing for Bishop Feehan High; and Denna Laing, who was paralyzed in 2015 while playing for the Boston Pride in the National Women's Hockey League. 'We almost have enough of us for a full line,' Brown deadpans. Brown was mentored and inspired by 'We're all following in Travis's tire tracks,' Brown said. In the driveway, Brown's friend Jack Doherty was talking about speeches he's lining up for Brown. Doherty has his own story: Advertisement 'When he speaks,' Doherty said, 'people want him to speak longer.' Brown doesn't want anyone to think he's some super hero. He's just a regular guy from Norwood, who's been able to move on from a life-altering injury with the help of family and friends who never gave up on him, who always inspired him. And so he aspires to inspire others. It could have gone the other way, he says. 'I could have closed the door, just stayed in my room, give in to that darkness,' he said. 'But my friends and family kept me going.' He turned to look at the house where he ran down the stairs on Christmas mornings. Where he put on his uniform for Little League games. Where he did his math homework. 'When one door closes, not all doors close,' he said. 'I have to work hard to find those other doors. But I'll never stop trying.' He looked up and down his street and then he said it, his mantra, something that repeats in his head, and he lives by it. 'Never quit,' Matt Brown said. 'Overcome. Keep going forward.' Kevin Cullen is a Globe columnist. He can be reached at
