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Senior Housing Properties sells 4 assets for $58M

Senior Housing Properties Trust wrapped up the sale of four assets for $58 million.

The healthcare real estate investment trust sold a 205,439-square-foot property at 77 Corporate Dr. in Bridgewater, N.J., for $47.5 million and a portfolio of three seniors housing communities in South Dakota for $10.5 million. The portfolio consists of 361 units in total.

The company plans to use the net proceeds for debt repayment and general business purposes.

The transactions were part of the REIT's plan to sell up to $900 million of assets in connection with the restructuring of its business arrangements with Five Star Senior Living Inc.