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 […]
Fortress Investment Group
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 […]
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 Fortress Investment Group (NYSE: […]
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 he […]
New Senior Investment Group (NYSE: SNR) has set in stone a plan to put distance between it and Fortress Investment Group (NYSE: FIG) while internalizing its operations — and Susan Givens will continue leading the company as CEO. The New York City-based real estate investment trust (REIT) announced Tuesday it had entered into an agreement to internalize […]
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 […]
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 […]
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 […]
It should come as no surprise that leaders of the largest publicly traded real estate investment trusts in senior housing—and the nation’s largest provider—topped this list of highest paid senior living executives in 2016. Company leaders at Welltower (NYSE: HCN), Ventas (NYSE: VTR) and Brookdale Senior Living (NYSE: BKD) made the most in total compensation in 2016, which includes base salary, […]
A familiar face in the senior housing industry is making yet another splash with a newly announced acquisition. Seattle-based senior housing investment company Columbia Pacific Advisors, founded in part by Emeritus Co-founder Dan Baty, has moved to purchase Vancouver, Washington-based senior living developer, operator and owner Hawthorn Retirement, the company announced Monday. The deal includes Hawthorn’s 55 […]