Nasdaq: SNH PRICE: +0.08 19.12 YIELD: % +0.42% Volume: 728,781 December 12, 2017

Cautionary Language

The information appearing on SNH’s website includes statements which constitute forward looking statements. These forward looking statements are based upon SNH’s present intents, beliefs or expectations, but forward looking statements are not guaranteed to occur and may not occur. SNH’s actual results may differ materially from those contained in SNH’s forward looking statements. The information contained in SNH’s filings with the Securities and Exchange Commission, including under “Risk Factors" and “Warnings Concerning Forward Looking Statements” in SNH’s periodic reports and other filings, identifies important factors that could cause SNH’s actual results to differ materially from those stated in SNH’s forward looking statements. SNH’s filings with the SEC are available on the SEC’s website at www.sec.gov and are also accessible on SNH’s website at the following link: SEC Filings. You should not place undue reliance upon forward looking statements.

The documents provided in this archived section are provided for historical purposes only. The information contained in each document is accurate only as of the date each document was originally issued or such earlier date stated in those documents. Senior Housing Properties Trust does not undertake any obligation to update any information contained in these documents. For current information about the company, please refer to our most recent public SEC Filings.

OK
Cautionary Language

Please note that you are about to view content from a third party website. SNH does not by its inclusion imply its endorsement of or concurrence with the data provided on this website.

OK

Senior Housing Properties Trust Announces $620 Million Mortgage Financing on Boston Seaport Buildings

July 18, 2016

NEWTON, Mass.--(BUSINESS WIRE)-- Senior Housing Properties Trust (Nasdaq:SNH) today announced that it has closed on a $620 million mortgage loan that matures in August 2026. The loan is secured by two 15 story, class A life-science buildings, which include 1.65 million gross square feet of lab space, corporate office space, structured parking and street level retail located in Boston’s Seaport District. The buildings were acquired by SNH in May 2014 for $1.125 billion when their construction was completed, and they are 96% leased to Vertex Pharmaceuticals, Inc. through 2028.

The 10-year loan is non-amortizing and carries a fixed interest rate of 3.53% per annum. SNH expects to use the proceeds of this loan to repay a portion of the outstanding borrowings under the Company’s $1 billion unsecured revolving credit facility and for general business purposes. Following the repayment, there will be approximately $900 million available under SNH’s unsecured revolving credit facility.

“We are pleased to take advantage of the current low interest rate environment to term out the majority of the outstanding balance on our unsecured revolving credit facility and to extend the average maturity of our debt to 8.9 years,” said David Hegarty, SNH’s President and Chief Operating Officer. “We believe that this transaction also highlights the value and quality of our medical office and life-science portfolio.”

The loan financing was provided by Morgan Stanley and Citi. Eastdil Secured acted as SNH’s advisor and Skadden, Arps, Meagher & Flom LLP provided legal counsel to SNH in this transaction.

Senior Housing Properties Trust is a real estate investment trust, or REIT, which owns senior living communities, medical office buildings and wellness centers throughout the United States. SNH is managed by the operating subsidiary of The RMR Group Inc. (Nasdaq:RMR), an alternative asset management company that is headquartered in Newton, MA.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE INCLUDES STATEMENTS AND HAS IMPLICATIONS WHICH CONSTITUTE FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO, WHENEVER SNH USES WORDS SUCH AS BELIEVES, EXPECTS, INTENDS, ANTICIPATES, ESTIMATES, WILL, MAY OR SIMILAR EXPRESSIONS, SNH IS MAKING FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON SNH’S CURRENT INTENT, BELIEFS, OR EXPECTATIONS, BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE STATED OR IMPLIED BY FORWARD LOOKING STATEMENTS. FOR EXAMPLE:

  • THIS PRESS RELEASE STATES THAT THERE WILL BE APPROXIMATELY $900 MILLION AVAILABLE UNDER SNH’S UNSECURED REVOLVING CREDIT FACILITY AFTER MORTGAGE PROCEEDS ARE USED TO REPAY A PORTION OF THE OUTSTANDING BALANCE. THE BALANCE OF THE CREDIT FACILITY MAY INCREASE OR DECREASE IN THE FUTURE DEPENDING ON ACTIONS OF THE COMPANY AND MAY HAVE AVAILABLITY LESSER OR GREATER THAN THE AMOUNT STATED.

THE INFORMATION CONTAINED IN SNH’S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, OR THE SEC, INCLUDING UNDER THE CAPTION “RISK FACTORS” IN SNH’S PERIODIC REPORTS OR INCORPORATED THEREIN, COULD CAUSE SNH’S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE STATED OR IMPLIED IN THIS PRESS RELEASE. SNH’S FILINGS WITH THE SEC ARE AVAILABLE AT THE SEC’S WEBSITE AT WWW.SEC.GOV.

FOR THIS REASON, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS.

EXCEPT AS REQUIRED BY LAW, SNH DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

A Maryland Real Estate Investment Trust with transferable shares of beneficial interest on the Nasdaq.
No shareholder, Trustee or officer is personally liable for any act or obligation of the Trust.

Source: Senior Housing Properties Trust

For Senior Housing Properties Trust

Brad Shepherd, 617-796-8234

Director, Investor Relations

IR Contact

U.S Green Building CouncilEnergy Star Partner