Though assisted living and memory care headwinds held back New Senior Investment Group (NYSE: SNR) in the third quarter of this year, not all the news was bad for one of the largest senior housing owners in the country. In particular, a stronger showing among its independent living communities and progress in ongoing efforts to […]
New Senior Investment Group
New Senior Closes $720 Million Refinancing New Senior Investment Group completed the refinancing of a $720 million secured loan from with Freddie Mac arranged through KeyBank Real Estate Capital. The loan has a seven-year term and bears interest at LIBOR plus 232 basis points, an improvement of approximately 170 basis points, or $12 million annually, versus […]
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 […]
Just over a year after announcing several major changes—including a move of its corporate headquarters across the country and abandoning its longstanding management model—CEO Lilly Donohue says Holiday Retirement is in “put-your-head-down mode” and focusing on improving the resident experience. The nation’s largest independent living provider has experienced an enormous amount of upheaval in the […]
New Senior Investment Group Inc. (NYSE: SNR) on Friday announced that its board of directors expects to share the outcome of its previously announced strategic review “in the coming months.” The New York City-based real estate investment trust (REIT) first announced the strategic review in February, saying that it was considering an outright sale of the […]
New Senior Investment Group Inc. (NYSE: SNR) is repositioning its 51-property Holiday Retirement portfolio as its review of strategic alternatives moves forward. Susan Givens, CEO of the New York City-based real estate investment trust (REIT), called the decision to reposition the Holiday portfolio “a significant evolutionary step for the company” during a Thursday call with analysts and investors. […]
Five Star Senior Living Names Adam Portnoy as Managing Director Five Star Senior Living (Nasdaq: FVE) announced that Adam Portnoy was elected as its new managing director. Portnoy, 47, was elected in order to fill a vacancy on the board left by the unexpected passing of Barry Portnoy, Five Star’s founder and one of its managing […]
Big changes might be in store for New Senior Investment Group (NYSE: SNR), including a possible sale of the company. That was the prominent topic of discussion during the New York City-based real estate investment trust’s (REIT) fourth-quarter 2017 earnings call Friday. Specifically, the company announced all options are on the table as it seeks to boost […]
Griffin-American REIT IV Acquires 9-Property Portfolio A portfolio of nine properties throughout the greater Tampa and Orlando areas sold for $109.5 million in early November. Griffin-American Healthcare REIT IV acquired the 1,140-unit portfolio from New Senior Investment Group (NYSE: SNR). Griffin-American Healthcare REIT IV is co-sponsored by American Healthcare Investors and Griffin Capital Company LLC. […]
New Senior Investment Group’s (NYSE: SNR) share price isn’t where executives believe it should be. Accordingly, the New York City-based real estate investment trust (REIT) is in the process of right-sizing its portfolio, which should help “bridge that gap,” CEO Susan Givens indicated during the company’s third-quarter 2017 earnings call on Friday. “Of course, part […]