Sullivan Worcester Reps SNH On $261M Property Stake Sale

By Andrew McIntyre (March 27, 2017, 3:26 PM EDT) -- Sullivan & Worcester LLP represented Senior Housing Properties Trust in connection with its $261 million sale, through a new joint venture, of a stake in two Boston life sciences and retail buildings to an unnamed sovereign institutional investor, according to an announcement on Monday from SNH.

The deal is for a joint venture through which the two parties will own 11 Fan Pier and 50 Northern Ave. The institutional investor is committing $261 million for a 45 percent stake in the venture, and SNH will own the remaining 55 percent of the venture.

The deal values the buildings at $1.2 billion,...

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