Upcoming AWS Coverage on Sabra Health Care REIT Post-Earnings Results

LONDON, UK / ACCESSWIRE / March 28, 2017 / Active Wall St. blog coverage looks at the headline from Senior Housing Properties Trust (NASDAQ: SNH) as the Company announced on March 27, 2017, that it has formed a joint venture with a sovereign institutional investor to acquire 11 Fan Pier and 50 Northern Avenue in Boston, MA. Register with us now for your free membership and blog access at:

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One of Senior Housing Properties Trust's competitors within the REIT - Healthcare Facilities space, Sabra Health Care REIT, Inc. (NASDAQ: SBRA), reported on February 22, 2017, its fourth quarter 2016 results. AWS will be initiating a research report on Sabra Health Care REIT in the coming days.

Today, AWS is promoting its blog coverage on SNH; touching on SBRA. Get all of our free blog coverage and more by clicking on the link below:

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Senior Housing Properties is a real estate investment trust, which owns senior living communities, medical office buildings and wellness centers throughout the US. The Company is managed by the operating subsidiary of The RMR Group Inc., an alternative asset management company that is headquartered in Newton, MA.

Transaction Detail

Senior Housing stated that the investor will contribute approximately $261 million for a 45% equity interest in the new venture, and Senior Housing Properties will own the remaining 55% equity interest. The investment amount is based on a property valuation of $1.2 billion, less $620 million of existing secured debt on the property.

The property included in the joint venture was acquired by Senior Housing Properties in May 2014 for $1.125 billion, consisting of two 15-storey, class A LEED® Gold Certified life-science buildings with structured parking located in Boston's Seaport District. The two buildings are 95% leased to Vertex Pharmaceuticals, Inc. through 2028 and include 1.1 million rentable square feet of lab, corporate office and street level retail space.

Senior Housing Properties expects to use the cash proceeds from this transaction to repay a portion of the amounts outstanding under its revolving credit facility.

David Hegarty, the Company's President and Chief Operating Officer stated:

"We are pleased to announce SNH's first joint venture transaction to own property. This transaction highlights the increased value of these two well located, well leased buildings since we acquired them less than three years ago. This transaction also reduces our investment portfolio's concentration in this property and reduces our overall leverage."

Ownership Control

Senior Housing Properties stated that it will continue to control the acquired property because its partner in this joint venture is a passive financial investor. Accordingly, the Company expects to consolidate the operating results of this venture in its financial statements and expects to account for the investor's minority equity interest in the venture as a non-controlling interest for financial reporting purposes. Senior Housing Properties noted that it is subject to a confidentiality agreement and cannot disclose the identity of the investor that formed this joint venture with the Company.

Stock Performance

At the close of trading session on Monday, March 27, 2017, Senior Housing Properties Trust's stock price rose slightly by 0.85% to end the day at $20.28. A total volume of 2.03 million shares were exchanged during the session, which was above the 3-month average volume of 1.57 million shares The stock has surged 13.30% and 19.73% in the last three months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 7.13%. The stock currently has a market cap of $4.81 billion.

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SOURCE: Active Wall Street