Healthcare: Commonwealth Completes Sale of 21 of 27 MOBs to SNH

As previously reported on November 12, CommonWealth REIT agreed to sell 27 primarily medical office, clinic and biotech laboratory buildings, or MOBs, to Senior Housing Properties Trust, or SNH.

On December 22, 2010, Commonwealth sold 19 of the 27 MOBs to SNH. In November 2010, it sold two of those 27 MOBs to SNH.

The aggregate sales prices for the MOBs sold to SNH on December 22, 2010 and in November 2010 were approximately $374.1 million, excluding closing costs. The remaining sales are scheduled to be completed by June 30, 2011.

SNH was Commonwealth’s subsidiary until SNH’s common shares were distributed to the company’s shareholders in 1999. Both entities are managed by Reit Management & Research LLC, or RMR.

[bostonrealestate.citybizlist.com]

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