Assisted Living Struggles Continue to Weigh on New Senior

New Senior Investment Group (NYSE: SNR) continues to make progress on its turnaround agenda, and is prioritizing assisted living, which continues to struggle with oversupply and labor costs. The performance disparity between the New York City-based real estate investment trust’s independent living and assisted living segments was on display during its Q2 2019 earnings call […]

Former HCP President Hutchens Joins New Senior Board of Directors

New Senior Investment Group (NYSE: SNR) appointed Justin Hutchens to its board of directors, the New York City-based health care real estate investment trust announced Wednesday. His appointment is effective immediately, New Senior said in a statement. Hutchens is currently chief executive officer of HC-One, one of the largest care home operators in the United […]

New Senior Receives $53M in Settlement with Fortress, Holiday, Board Members

New Senior Investment Group (NYSE: SNR) announced Wednesday it received $53 million as part of a lawsuit settlement. The New York City-based real estate investment trust (REIT) received the settlement from its largest investor, private equity firm Fortress Investment Group (NYSE: FIG), its primary operator, Holiday Acquisition Holdings, and members its board of directors. The […]

New Senior To Bring In More Operators in 2019

After a year of restructuring and bringing its management in-house, New Senior Investment Group (NYSE: SNR) is entering 2019 with a new focus and, for the first time, some investor guidance. The New York City-based health care real estate investment trust (REIT) reported an $86.6 million net loss in Q4 2018, or a $1.05 loss […]

Transactions & Financings: New Senior Issues Fortress Affiliate $40 Million In Stock, NHI Lends $180 Million

New Senior Investment Group Issues Fortress Affiliate $40 Million in Series A Preferred Stock New Senior Investment Group (NYSE: SNR) filed an 8-K form with the Securities and Exchange Commission (SEC) indicating the New York City-based real estate investment trust (REIT) issued 400,000 shares of Series A Preferred Stock to FIG LLC, an affiliate of […]

New Senior Investment Group Names Smith CFO

New Senior Investment Group (NYSE: SNR) has appointed David Smith as executive vice president and CFO as part of its ongoing plan to internalize its operations. Smith, 37, is a real estate investment trust (REIT) veteran with 15 years of experience. He previously worked as a managing director with Fortress Investment Group (NYSE: FIG), where […]

New Senior Plans to Internalize Management, Pay Fortress $50 Million

New Senior Investment Group (NYSE: SNR) is distancing itself from external manager Fortress Investment Group (NYSE: FIG) and internalizing its operations, executives announced Thursday. The move is being made as part of the New York City-based real estate investment trust’s (REIT) ongoing strategic review process, which has not yet concluded, CEO Susan Givens implied during a call […]

Top 10 Senior Housing News Stories of 2017

2017 has been a wild ride for many industries—the senior living industry included.  This year, industry news was once again dominated by Brookdale Senior Living (NYSE: BKD). There were takeover predictions, acquisition rumors and analyst think pieces, but ultimately no merger deals—at least as of Dec. 17.  We also have a strong feeling that we […]

Senior Housing Investments & Transactions: Fortis Files for Receivership

Fortis Management Group Files for Receivership Fortis Management Group filed for receivership in an agreement with its landlords, the company revealed on July 12. The Milwaukee-based management company operates 60 skilled nursing facilities and five independent and assisted living communities throughout Michigan, Minnesota, Wisconsin, Oregon, Washington and Idaho. Read the full story on Skilled Nursing […]