Diversified Healthcare Trust and Office Properties Income Trust Mutually Agree to Terminate Merger Agreement
September 01 2023 - 4:15PM
Business Wire
Diversified Healthcare Trust (Nasdaq: DHC) and Office Properties
Income Trust (Nasdaq: OPI) today announced that they have mutually
agreed to terminate their previously announced merger agreement
dated April 11, 2023, pursuant to which OPI had agreed to acquire
all outstanding common shares of DHC. Accordingly, the companies
have cancelled their respective Special Meetings of Shareholders
scheduled for September 6, 2023.
The mutual termination was approved by the respective Special
Committees and Boards of Trustees of OPI and DHC. The parties have
agreed that each company will bear its costs and expenses in
connection with the terminated transaction pursuant to the terms of
the merger agreement, and that neither party will pay any
termination fee as a result of the mutual decision to terminate the
merger agreement.
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 June 30, 2023,
DHC’s approximately $7.1 billion portfolio included 376 properties
in 36 states and Washington, D.C., occupied by approximately 500
tenants, and totaling approximately 9 million square feet of life
science and medical office properties and more than 27,000 senior
living units. DHC is managed by The RMR Group (Nasdaq: RMR), a
leading U.S. alternative asset management company with
approximately $36 billion in assets under management as of June 30,
2023 and more than 35 years of institutional experience in buying,
selling, financing and operating commercial real estate. To learn
more about DHC, visit www.dhcreit.com.
About Office Properties Income Trust
OPI is a national REIT focused on owning and leasing high
quality office and mixed-use properties in select growth-oriented
U.S. markets. As of June 30, 2023, approximately 63% of OPI's
revenues were from investment grade rated tenants. OPI owned and
leased 155 properties as of June 30, 2023, with approximately 20.8
million square feet located in 30 states and Washington, D.C. In
2023, OPI was named as an Energy Star® Partner of the Year for the
sixth consecutive year. OPI is managed by The RMR Group (Nasdaq:
RMR), a leading U.S. alternative asset management company with
approximately $36 billion in assets under management as of June 30,
2023, and more than 35 years of institutional experience in buying,
selling, financing and operating commercial real estate. OPI is
headquartered in Newton, MA. For more information, visit
opireit.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20230901201119/en/
DHC Investor Contact: Melissa McCarthy, Manager, Investor
Relations (617) 796-8234 OPI Investor Contact: Kevin Barry,
Director, Investor Relations (617) 219-1410 Media Contact:
Andrew Siegel / Michael Reilly Joele Frank 212-355-4449
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