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 […]

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 […]