Senior Housing Properties Trust Making “Great Progress” on Dispositions, COO Says

Jennifer Francis, president and COO of Senior Housing Properties Trust (Nasdaq: SNH), participated in a video interview at Nareit’s REITworld: 2019 Annual Conference in Los Angeles.

Francis discussed the headway that Senior Housing Properties Trust has made with its disposition strategy. She noted that the REIT identified $900 million in assets for disposal, in an effort to reduce leverage. “We’ve made great progress,” she said, with just over $700 million of assets either sold, under agreement to sell, or with offers received.

Senior Housing Properties Trust has also been expanding its presence in the medical office and life science segments. Francis described medical office as a “thriving industry” with a national vacancy rate of about 8%.

Meanwhile, Francis commented on some of the benefits the REIT expects to accrue from the restructuring strategy undertaken by its operator, Five Star Senior Living, as it works to address industry headwinds. She said improvement in the senior living industry is likely to emerge in the next year or so and “this transition will allow us to reap the benefits of growth in that industry.”