Net income at Newton-based senior housing and assisted living REIT Senior Housing Properties Trust rose 6 percent year-over-year in the first quarter, to $31.8 million from $30 million.

Since Jan. 1, the company has acquired or entered agreements to acquire 33 properties nationwide, for an aggregate purchase price of approximately $450.5 million, including the assumption of $79 million of mortgage debt and excluding closing costs, according to a statement. Net income for the first quarter includes a non-cash impairment of assets charge of $166,000 related to two properties.

In January the company sold $250 million of 4.3 percent senior unsecured notes due 2016, raising net proceeds of approximately $245.4 million. Net proceeds of that offering were used to repay borrowings outstanding under the company’s revolving credit facility and for general business purposes, including partially funding the acquisitions described above, the company said.

Q1 Acquisition Spree Adds To Senior Housing Properties’ Bottom Line

by Banker & Tradesman time to read: 1 min
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