New Senior Investment Group

New Senior Investment Group is a publicly traded real estate investment trust that invests in retirement homes. As of February 2020, the company owned 103 primarily private pay senior housing properties.[2] The company is externally managed by an affiliate of Fortress Investment Group.[1]

New Senior Investment Group Inc.
Public company
Traded asNYSE: SNR
Russell 2000 Index Component
IndustryReal estate investment trust
FoundedMay 17, 2012 (2012-05-17)
HeadquartersNew York City
Key people
Wes Edens, Chairman
Susan Givens, CEO
Justine Cheng, CFO
Revenue $45 million (2019)
-$0 million (2019)
Total assets $2.194 billion (2019)
Total equity $236 million (2019)
Number of employees
19 (2019)
Websitewww.newseniorinv.com
Footnotes / references
[1]

History

The company was formed on May 17, 2012, as a subsidiary of Newcastle Investment Corp.[1]

On November 6, 2014, Newcastle completed the corporate spin-off of the company.[3]

In December 2014, the company agreed to acquire a 17-property portfolio for $435 million.[4][5]

On August 12, 2015, the company acquired of 28 private pay, independent living properties from affiliates of Holiday Retirement for $640 million.[6] The company financed the purchase in part with a $464.7 million loan originated by Walker & Dunlop.[7]

In October 2017, the company sold 15 properties for $296 million.[8]

In February 2020, the company sold its assisted living/memory care portfolio for $385 million.[2]

References
  1. "New Senior Investment Group Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "New Senior Announces Completion of Strategic Transaction to Sell Assisted Living/Memory Care Portfolio & Related Refinancing Activity" (Press release). Business Wire. February 10, 2020.
  3. "New Senior Announces Completion of Spin-Off from Newcastle" (Press release). Business Wire. November 7, 2014.
  4. "New Senior Announces Agreement to Acquire $435 Million of Senior Housing Assets and the Closing of a $16 Million Senior Housing Acquisition" (Press release). Business Wire. December 22, 2014.
  5. Kirchen, Rich (December 24, 2014). "Wes Edens-related senior living firm plans $435M acquisition". American City Business Journals.
  6. "New Senior Announces Completion of $640 Million Acquisition of Independent Living Assets" (Press release). Business Wire. August 17, 2015.
  7. "Walker & Dunlop Closes $465 Million Financing for New Senior Investment Group, Inc" (Press release). PR Newswire. August 19, 2015.
  8. "New Senior Announces $296 Million of Asset Sales Under Contract" (Press release). Business Wire. October 5, 2017.
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