Senior Housing Properties Trust SNH today announced that it has
entered an agreement to sell two rehabilitation hospitals it owns to a
joint venture comprised of affiliates of The Sanders Trust, LLC of
Birmingham, AL and Harrison Street Real Estate Capital, LLC of Chicago,
IL for $90 million. SNH currently expects to realize a gain upon
completion of this sale of over $30 million.
The two hospitals to be sold are New England Rehabilitation Hospital
(198 licensed beds) located in Woburn, MA and Braintree Rehabilitation
Hospital (166 licensed beds) located in Braintree, MA. These hospitals
were acquired by SNH in 2002; and the hospitals real estate assets are
currently leased to Five Star Quality Care, Inc. FVE. In
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