---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-076326"
form_type: "8-K"
ticker: "DHC"
cik: "0001075415"
company_name: "DIVERSIFIED HEALTHCARE TRUST"
filed_at: "2023-06-29T23:59:59+00:00"
generated_at: "2026-06-13T14:38:19.200758+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# DHC collateral appraised value falls below credit facility threshold, triggering event of default

## Summary
- Appraised value of 61 medical office and life science properties declined 22% to $1.05B from $1.34B, below $1.09B threshold.
- Non-monetary event of default under $450M secured credit facility; negotiating limited waiver to reduce required value through Sept 30, 2023.
- Not in compliance with debt incurrence covenants for over 2 years; cannot issue new debt or refinance expiring debt.
- $700M of indebtedness becomes due in first half 2024; earliest compliance expected mid-2024.
- Board cites financial constraints as primary reason for recommending pending merger with OPI.

## SEC filing metadata
- accession: 0001104659-23-076326
- form_type: 8-K
- ticker: DHC
- cik: 0001075415
- company_name: DIVERSIFIED HEALTHCARE TRUST
- filed_at: 2023-06-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1075415/000110465923076326/0001104659-23-076326-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1075415/000110465923076326/tm2320012d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-076326
- JSON: https://secwatch.observer/filing/0001104659-23-076326.json
- Plain text: https://secwatch.observer/filing/0001104659-23-076326.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.