Senior Housing REIT Reaps $90M From Hospital Sale

Law360, New York (September 20, 2013, 2:07 PM EDT) -- Senior Housing Properties Trust has agreed to sell two rehabilitation hospitals to a venture of real estate private equity investor Harrison Street Real Estate Capital LLC and The Sanders Trust LLC for $90 million, the Massachusetts real estate investment trust said Friday.

The two hospitals are located in Massachusetts and have a combined 364 beds, said Senior Housing Properties Trust, known as SNH. The senior care REIT acquired the properties in 2002.

The divestment by SNH is the latest attempt by the REIT to limit its...
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