RMR - Public offerings

Announces Early Redemption of $100 Million 4.95% Senior Notes Due February 2027 and $450 Million 5.50% Senior Notes Due December 2027 Service Properties Trust (NASDAQ:SVC) today announced the closing of its underwritten public offering of 479.2 million common shares of beneficial interest, including 62.5 million common shares of beneficial interest issued upon the exercise in full by the underwriters of their option to purchase additional common shares, at a public offering price of $1.20 per share, before underwriting discounts and commissions. The net proceeds from the offering were approximately $542.3 million, after payment of the underwriting discount and other estimated offering exp

Service Properties Trust (NASDAQ:SVC) today announced the pricing of its underwritten public offering of 416.7 million common shares of beneficial interest at a price to the public of $1.20 per share. The total gross proceeds to SVC are expected to be $500 million, before deducting underwriting discounts and commissions and other offering expenses payable by SVC. The settlement of this offering is expected to occur on or about April 2, 2026. The underwriters have also been granted a 30-day option to purchase up to an additional 62.5 million common shares. SVC expects to use the net proceeds of the offering, together with cash on hand, to redeem all or a portion of the $100.0 million princ

Service Properties Trust (NASDAQ:SVC) today announced that it has commenced a $500.0 million underwritten public offering of its common shares of beneficial interest. SVC expects to use the net proceeds of this proposed offering to redeem all or a portion of the $100.0 million principal amount outstanding of its 4.95% senior notes due 2027 and/or the $450.0 million principal amount outstanding of its 5.50% senior notes due 2027. It is contemplated that the underwriters will also be granted a 30-day option to purchase up to an additional 15% of the number of common shares to be issued and sold in the proposed offering at the public offering price, less underwriting discounts and commissions.

Transaction Expected to Provide Capital to Expand Lending Platform, Capitalize on Attractive Investment Opportunities, Broaden Portfolio Diversification and Increase Share Liquidity Seven Hills Realty Trust (NASDAQ:SEVN) today announced that it intends to conduct a fully backstopped rights offering to raise gross proceeds of up to $65 million. The transaction is expected to provide additional capital to expand SEVN's lending platform and capitalize on attractive investment opportunities, while also broadening portfolio diversification and increasing the liquidity of SEVN's common shares, or the Common Shares. Pursuant to the offering, SEVN will issue, at no charge, transferable subscrip

Expects to Close $94 Million of Additional Secured Financings by the End of May 2025 Diversified Healthcare Trust (NASDAQ:DHC) today announced that it closed a $109 million 10-year fixed rate mortgage financing through Freddie Mac. The loan is secured by seven senior living communities consisting of 1,184 units located in five states that are managed by Five Star Senior Living, the operating division of AlerisLife Inc. The loan has a 6.22% fixed interest rate, with interest only payable during the first 5 years and matures on May 1, 2035. DHC intends to use the loan proceeds to redeem a portion of its outstanding 9.750% senior notes due 2025. Based on the 2024 NOI for the seven collateral

DHC to Use the Proceeds to Pay Down Senior Secured Notes Due January 2026 Diversified Healthcare Trust (NASDAQ:DHC) today announced the closing of the previously announced sale of 18 triple-net leased senior living communities to Brookdale Senior Living Inc. (NYSE:BKD) for $135 million, a valuation of approximately $154,000 per unit. The 18 communities include 876 units located across 10 states. DHC will use the proceeds from the sale to pay down its senior secured notes due in January 2026. Following this pay down and the previous pay down with the proceeds of the $159.0 million sale of the MUSE building in San Diego in January, approximately $647 million of these senior secured notes

DHC to Use Proceeds to Pay Down its Senior Secured Notes Due January 2026 Provides Update on Timing of Brookdale Closing Diversified Healthcare Trust (NASDAQ:DHC) today announced it has completed the $159.0 million sale of MUSE, a 186,000 square foot, three building life science property located in Torrey Pines, San Diego. At the time of sale, the property was 49% leased, with a weighted average lease term of over eight years. DHC plans to use the proceeds from the sale to pay down its senior secured notes due in January 2026. Chris Bilotto, President and Chief Executive Officer of DHC, commented: "The sale of MUSE, located in one of the nation's leading life science markets, moneti

DHC Will Use the Proceeds to Pay Down Debt Diversified Healthcare Trust (NASDAQ:DHC) today announced it has entered into a purchase and sale agreement with Brookdale Senior Living Inc. (NYSE:BKD) ("Brookdale") whereby Brookdale will acquire 18 triple net leased senior living communities that Brookdale currently leases from DHC for $135 million. Brookdale has leased and operated these 18 communities since February 2003. The 18 communities include 876 units located across 10 states serving primarily assisted living residents as well as memory care residents. DHC intends to use the proceeds from the transaction to pay down its $941 million of senior secured notes due January 2026. Chris Bilo

DHC Receives Proceeds of Approximately $108 Million Diversified Healthcare Trust (NASDAQ:DHC) today announced that it has sold an additional 10% equity interest in the two building life science complex located at 11 Fan Pier and 50 Northern Avenue in Boston, MA. DHC sold the interest to an existing joint venture partner for a purchase price of approximately $108 million. The purchasing partner now owns a 45% interest in the joint venture, another partner continues to own a 45% equity interest, and DHC owns the remaining 10% equity interest. The purchase price for the 10% equity interest is based on a property valuation of $1.7 billion, less the $620 million of existing secured debt on the

Net Loss Attributable to Common Shareholders of $(0.10) Per Share Normalized FFO Attributable to Common Shareholders of $0.42 Per Share Same Property Cash Basis NOI Increased by 3.1% Compared to the Same Period Last Year Closed Acquisition of Monmouth Real Estate Investment Corporation Completed 885,000 Square Feet of Leasing for 27.9% Higher Rents Industrial Logistics Properties Trust (NASDAQ:ILPT) today announced its financial results for the quarter ended March 31, 2022. Yael Duffy, President and Chief Operating Officer of ILPT, made the following statement: "We achieved a significant milestone for our company with the acquisition of Monmouth Real Estate Investment Corporation (MN

Hotel Industry Veteran Brings Over 25 Years of Experience to the Role NEWTON, Mass., March 14, 2022 /PRNewswire/ -- Sonesta International Hotels Corporation (Sonesta) today announced that John Murray, a Director of Sonesta since 2018, has been appointed as President and Chief Executive Officer effective April 1, 2022. Mr. Murray has been a Managing Trustee, President and Chief Executive Officer of Service Properties Trust (NASDAQ:SVC), which owns a 34% interest in Sonesta, since 2018 and a member of SVC's management team since its initial public offering in 1995. Mr. Murray

Third Quarter Net Income of $3.7 Million, or $0.08 Per Share Third Quarter Normalized FFO of $59.6 Million, or $1.24 Per Share Third Quarter CAD of $30.9 Million, or $0.64 Per Share Third Quarter Same Property Cash Basis NOI Increased 1.0% Leased 659,000 Square Feet for a Weighted Average Term of 10.9 Years Office Properties Income Trust (NASDAQ:OPI) today announced its financial results for the quarter ended September 30, 2021. Christopher Bilotto, President and Chief Operating Officer of OPI, made the following statement: "OPI's third quarter results were highlighted by sequential growth in Normalized FFO and same property cash basis NOI that exceeded our expectations. Leasing volu

Office Properties Income Trust (NASDAQ:OPI) today announced that it has priced an underwritten public offering of $400 million of 3.450% senior notes due 2031 ("Notes"). The settlement of this offering is expected to occur on September 28, 2021, subject to customary closing conditions. OPI expects to use the net proceeds from this offering for general business purposes, which may include repaying amounts outstanding under its revolving credit facility. The joint book-running managers for this offering are BofA Securities, Inc., Wells Fargo Securities, LLC, Citigroup Global Markets Inc., Mizuho Securities USA LLC, PNC Capital Markets LLC and RBC Capital Markets, LLC. The joint lead managers

Office Properties Income Trust (NASDAQ:OPI) today announced that it has priced an underwritten public offering of $350 million of 2.400% senior notes due 2027 ("Notes"). The settlement of this offering is expected to occur on August 13, 2021, subject to customary closing conditions. OPI expects to use the net proceeds from this offering for general business purposes, which may include repaying amounts outstanding under its revolving credit facility and/or redeeming the $300.0 million principal amount outstanding of its 4.15% Senior Notes due 2022 and/or the $300.0 million principal amount outstanding of its 4.00% Senior Notes due 2022. The joint book-running managers for this offering are

Second Quarter Net Loss of $66.7 Million, or $1.38 Per Share Second Quarter Normalized FFO of $55.4 Million, or $1.15 Per Share Second Quarter CAD of $33.8 Million, or $0.70 Per Share Leased 548,000 Square Feet with a 17.1% Roll-up in Rents Acquired Two Class A Urban Core Office Properties for $550.0 Million Office Properties Income Trust (NASDAQ:OPI) today announced its financial results for the quarter ended June 30, 2021. Christopher Bilotto, President and Chief Operating Officer of OPI, made the following statement: "During the second quarter, we further advanced OPI's capital recycling program with the acquisition of two newly constructed, long-term leased office properties in s

Service Properties Trust (NASDAQ:SVC), or SVC, today announced that it has completed the previously announced sale of five former Hawthorn Suites branded hotels with 430 rooms and a net carrying value of $10.7 million for an aggregate sales price of $22.3 million, excluding closing costs. The proceeds from the sale will be used for general business purposes. About Service Properties Trust Service Properties Trust is a real estate investment trust which owns a diverse portfolio of hotels and net lease service and necessity-based retail properties across the United States and in Puerto Rico and Canada. SVC is managed by the majority owned operating subsidiary of The RMR Group Inc. (NASDAQ:R

Office Properties Income Trust (NASDAQ:OPI) today announced that it has priced an underwritten public offering of $300 million of 2.650% senior notes due 2026 ("Notes"). The settlement of this offering is expected to occur on May 18, 2021, subject to customary closing conditions. OPI expects to use the net proceeds from this offering for general business purposes, which may include redeeming the $310.0 million principal amount outstanding of its 5.875% Senior Notes due 2046, which notes are currently redeemable in whole or in part upon 30 days' notice without the payment of a premium. The joint book-running managers for this offering are BofA Securities, Inc., Citigroup Global Markets Inc

First Quarter Net Loss Attributable to Common Shareholders of $0.28 Per Share First Quarter Normalized FFO Attributable to Common Shareholders of $0.02 Per Share Diversified Healthcare Trust (NASDAQ:DHC) today announced its financial results for the quarter ended March 31, 2021. "We are pleased that the COVID-19 vaccination clinics at our managed senior living communities are complete and we believe that the successful rollout of the vaccines was a catalyst for occupancy to begin to stabilize in February and March," stated Jennifer Francis, President and Chief Operating Officer of Diversified Healthcare Trust. "At the conclusion of the vaccination clinics, over 96% of residents had recei

NEWTON, Mass.--(BUSINESS WIRE)--Service Properties Trust (Nasdaq: SVC), or SVC, today announced that it has completed the previously announced sale of ten Hawthorn Suites branded hotels with 1,212 rooms and a net carrying value of $30.4 million for an aggregate sales price of $41.0 million, excluding closing costs. The proceeds from the sale will be used for the repayment of debt. SVC also entered a short-term lease and revised purchase agreement for its five remaining Hawthorn Suites branded hotels with the same buyer. SVC has agreed to sell these five hotels with 430 rooms and a net carrying value of $10.7 million for $22.3 million and expects to complete the sale of these hotels