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Boston leasing activity during 2022 increased by 10% over 2021 and 130% over 2020.

Office Properties Income Trust and Diversified Healthcare Trust to Merge in All-Share Transaction 

Office Properties Income Trust (OPI) announced that it will merge with Diversified Healthcare Trust (DHC) in a deal that will see OPI acquire all outstanding common shares of DHC in an all-share transaction. Following the merger, OPI will become the surviving entity and change its name to Diversified Properties Trust. The deal is expected to close in the third quarter of 2023.  

“I am confident that the merger will create a stronger and more resilient combined company with more diversified revenue sources and decreased exposure to a weakening office market environment,” said Christopher Bilotto, OPI’s president and COO. 

The marriage between the two companies grants OPI entry to cash flows from DHC’s medical office and life science portfolio, as well as the potential for NOI growth from its senior housing portfolio. OPI has secured a $368 million bridge loan facility from JPMorgan Chase Bank to help finance the closing of the transaction. 


Inside The Story

Christopher Bilotto

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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