Two Healthcare Trusts Merge: Office Properties Income Trust and Diversified Trust Join Forces

Office Properties Income Trust (OPI) has announced a merger with Diversified Healthcare Trust (DHC). The all-share transaction will see OPI acquire all outstanding common shares of DHC, and the surviving entity will be renamed to Diversified Properties Trust. Two Trusts Merge: Office Properties Income Trust and Diversified  Trust Join Forces. It is expected that the deal will close in Q3 2023.

Christopher Bilotto, President, and COO of OPI expressed confidence that this merger would create a stronger company with more diversified revenue sources and reduced exposure to an unsteady office market environment. Through this marriage, OPI gains access to cash flows from medical offices and life science portfolios as well as potential NOI growth from senior housing portfolios. JPMorgan Chase Bank has provided $368 million bridge loan facility for financing the closing of the transaction.