Part of Diversified Healthcare Trust's portfolio includes Vertex Pharmaceutical's headquarters in Boston. Part of Diversified HealthcareTrust's portfolio includes Vertex Pharmaceutical's headquarters inBoston.

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NEWTON, MA—Amidst a major restructuring effort, locally-basedSenior Housing Properties Trust officially changed its name on Jan.1 to Diversified Healthcare Trust.

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The rebranding to Diversified Healthcare Trust marks a milestonein the company's transformation, which includes the anticipatedconversion of SNH's existing triple-net leases with Five StarSenior Living Inc. into management agreements that was expected tooccur on Jan. 1 pursuant to the transaction agreement SNH enteredinto with FVE in April 2019.

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Jennifer Francis, president and COO of the newly brandedDiversified Healthcare Trust says the name change more accuratelydepicts the company's portfolio of diverse, high-quality healthcarereal estate and its strategy moving forward. "Over the past 10years, we have made considerable progress in diversifying andenhancing what was once a pure-play senior living portfolio bystrategically acquiring state-of-the-art life science propertiesand well-located medical office buildings in order to meet thebroader real estate needs of the continually evolving healthcareindustry," she adds.

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Effective today, SNH's 5.625% senior notes due 2042 will nolonger trade under the ticker "SNHNI" but will trade under "DHCNI".Similarly, SNH's 6.25% senior notes due 2046 will no longer tradeunder the ticker "SNHNL" but will now trade under the ticker"DHCNL."

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DHC's life sciences properties include laboratory and researchspace, manufacturing facilities and corporate offices. The firmboasts a portfolio of more than 12 million square feet of lab andmedical office space and more than 32,000 living units, Propertiesrange from multi-specialty physician offices, to more than 270senior living communities, to multi-building life science campuses.DHC's properties are located in both urban and suburban settings in41 states and Washington, DC.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.