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Senior Housing Properties to defer rent payable by tenant Five Star

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Senior Housing Properties to defer rent payable by tenant Five Star

Senior Housing Properties Trust agreed to defer through March 31 the rent payment due and payable by its largest tenant, Five Star Senior Living Inc., at certain of its leased properties for February.

The healthcare real estate investment trust noted that by signing the letter agreement March 11, Five Star acknowledged and agreed that the underlying master leases are in full force and effect.

As of Dec. 31, 2018, Senior Housing Properties owned 4,235,000 of Five Star's common shares, translating to about 8.3% of the company's outstanding common shares.

Five Star is also the manager of the REIT's managed seniors housing communities.