By moving to acquire New Senior (NYSE: SNR) in a $2.3 billion transaction, leaders with Ventas (NYSE: VTR) made good on recently stated intentions. “We believe in the recovery story and are prepared to put our money where our mouth is,” Ventas CEO Debra Cafaro said at the Nareit conference on June 9. The New […]
After a week in which senior living providers intensified fears of oversupply, real estate investment trust (REIT) National Health Investors, Inc. (NYSE: NHI) is not concerned. With increasing pressures on operators, though, NHI indicated it wouldn’t be surprised to see lower rent escalators across the industry. Despite the nation’s largest senior living provider, Brookdale Senior Living […]
New Senior Appoints Interim CFO The board of directors of New Senior Investment Group Inc. (NYSE: SNR) appointed Bhairav Patel as interim CFO and treasurer, effective as of Sept. 26. The announcement comes as Justine Cheng resigned from the roles to pursue a new professional opportunity, according to an SEC filing from the company. Patel […]
Trends, influenced by tailwinds and headwinds, blow strong and then can change course over short periods or over a span of many years. On an airplane, these tailwinds and headwinds create turbulence, causing temporary discomfort that typically passes with smoother air ahead. So even though a slight tailwind at the senior housing industry’s back is […]
DiNapoli Capital Partners Acquires Topanga Park Assisted Living In Canoga Park, California DiNapoli Capital Partners has acquired Topanga Park Assisted Living in Canoga Park, California in a $23.4-million cash transaction facilitated by JCH Consulting Group. The deal included both the business and the Topanga Park retirement facility itself, complete with 90 units and 120 licensed […]
With the backing of one of the nation’s major investment groups, Fortress Investment Group (NYSE: FIG), and a previous foray into senior living investing through its predecessor Newcastle Investment Corp. (NYSE: NCT), New Senior Investment Group (NYSE: SNR) has quickly risen in the market since its launch in late 2014. After announcing last summer that Newcastle […]
New Senior Investment Group Inc. (NYSE: SNR) announced today that it has entered into an agreement to acquire a 28-property portfolio from affiliates of Holiday Retirement for approximately $640 million. The portfolio, which includes private-pay independent living communities, contains 3,298 units across 21 states with an average occupancy of 88%, according to the company. Holiday […]
In a deal quietly announced in a U.S. Securities and Exchange Commission filing last week, NorthStar Realty Finance Corp. (NYSE: NRF) said it is acquiring a portfolio of 32 independent living communities from affiliates Harvest Facility Holdings LP, an affiliate of Holiday Retirement, for $875 million. The portfolio of private-pay facilities comprises approximately 3,983 units across […]
We will be suspending our daily email tomorrow in observance of the Easter holiday but will resume our normal schedule on Monday, April 6. We wish all our readers an enjoyable holiday weekend and invite you to catch up on some of the most popular stories posted in recent days. Google Data Sheds New Light […]
A deal to secure $670 million in Freddie Mac financing for New Senior Investment Group Inc. (NYSE: SNR), announced earlier this week, was the largest in company history for Walker & Dunlop, the commercial real estate finance company that facilitated the financing. The company said Tuesday it was the largest financing in the company’s 77-year history, […]
