Independent Living Faces Covid-19 Vulnerabilities As Less Needs-Based Product

Compared to assisted living and memory care, independent living and active adult communities can be harder to secure during the coronavirus pandemic. The better health, mobility and independent nature of their census can make social distancing a bigger ask, and the leaner staffing necessary to operate these communities means residents have less support in the […]

Transactions & Financings: Columbia Pacific’s $177M Canadian Portfolio Sale; New Senior’s $270M Refinancing

Columbia Pacific sells Canadian portfolio for $177M Columbia Pacific Advisors is selling a six-property Canadian senior housing portfolio to Singapore Press Holdings for $176.6 million (C$232.9 million). The properties total 717 units and include: Heritage Meadows Gracious Retirement Living, an independent living community in Cambridge, Ontario The Bradley Gracious Retirement Living, an independent living community […]

Free From Assisted Living Woes, New Senior Charts Path Forward

Now unburdened by a troubled assisted living portfolio, executives with New Senior Investment Group (NYSE: SNR) believe that the company is on better footing. New Senior is currently focused on managing its operator concentration, strengthening its balance sheet and growing. The company believes that its independent living portfolio is well-positioned to serve the private-pay middle […]

Movers & Shakers: Hutchens Exits New Senior Board; Discovery Names Resident Experience VP

Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for one […]

Transactions & Financings: Related Cos. JV Lands $276M; New Senior Completes $385M Portfolio Sale

New Senior completes $385M AL/MC Portfolio sale New Senior Investment Group (NYSE: SNR) completed the $385 million sale of its entire assisted living and memory care portfolio for a gross sale price of $385 million (the “Transaction”). Proceeds from the transaction, which was first announced last November, were used to reduce debt by approximately $360 […]

ReNew REIT Named as Buyer of $385M New Senior Portfolio

The buyer of New Senior Investment Group’s (NYSE: SNR) portfolio of assisted living and memory care communities has been revealed. ReNew REIT, the health care real estate investment trust recently founded by former Health Care REIT CEO George Chapman, was listed as the buyer in a 10Q form New Senior filed on Tuesday with the […]

New Senior Charts ‘New Path’ in $385M Assisted Living Portfolio Sale

New Senior Investment Group (NYSE: SNR) is selling all of its assisted living and memory care properties in a significant step in the company’s ongoing transformation, following moves to distance itself from Fortress Investment Group (NYSE: FIG) The New York City-based real estate investment trust (REIT) intends to sell its entire portfolio of assisted living […]

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 […]