In October 2012, we entered an agreement to sell two skilled nursing facilities, or SNFs, with a total of 271 living units that we own which are located in Michigan for a sale price of $8.0 million, including the transfer of $7.6 million of HUD mortgage debt to the buyer. These two SNFs receive the majority of their revenues from Medicare/Medicaid reimbursements. The losses generated at these facilities are included in our discontinued operations. Completion of this sale is subject to customary closing conditions and we can provide no assurance that a sale of these SNFs will be completed.Bruce Mackey, President & CEO, made the following statement regarding the third quarter results of operations and recent activities:
Five Star Quality Care, Inc. Reports Third Quarter 2012 Results
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