Deal Details
Follow-On Offering
Summary
Baird served as co-manager on this offering.
About
Senior Housing Properties Trust (“Senior Housing Properties” or the “Company”) (NYSE: SNH) recently completed a follow-on offering of 31,050,000 shares of common stock at a price of $22.20 per share, generating gross proceeds of approximately $689.3 million, including the exercise of the underwriter’s over-allotment option. The Company intends to use the net proceeds from the offering to repay amounts outstanding on its revolving credit facility and for general business purposes, including funding in part the pending acquisition of 38 senior living communities and for other possible future acquisitions of properties.Senior Housing Properties is a real estate investment trust, or REIT, which invests in senior living properties, including apartment buildings for aged residents, independent living properties, assisted living facilities, nursing homes, wellness centers and properties leased to medical providers, medical related businesses, clinics and biotech laboratory tenants, or MOBs. As of February 2, 2015, the Company owned 393 properties (420 buildings) located in 39 states and Washington, D.C., including 5 properties (8 buildings) classified as held for sale. The Company is headquartered in Newton, Massachusetts.
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- Date
- February 2015
- Company
- Senior Housing Properties Trust
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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