CommonWealth REIT is selling 13 suburban properties to Senior Housing Properties Trust for $167 million. The properties being sold are presently 95 percent occupied on a combined basis. Upon completion of the transaction, expected before the year-end, the REIT expects to record a net capital gain of almost $11 million. The proceeds will be used for general business purposes, including repaying debt and new acquisitions. Senior Housing holds the right of first refusal to buy certain properties from CommonWealth REIT.

Click here for the release from Business Wire.