New Senior Investment Group
 | |
| Type | Public company |
|---|---|
| NYSE: SNR Russell 2000 Index Component | |
| Industry | Real estate investment trust |
| Founded | May 17, 2012 |
| Headquarters | New 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) |
| Website | www |
| Footnotes / references [1] | |
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]
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[]
- ^ a b c "New Senior Investment Group Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ a b "New Senior Announces Completion of Strategic Transaction to Sell Assisted Living/Memory Care Portfolio & Related Refinancing Activity" (Press release). Business Wire. February 10, 2020.
- ^ "New Senior Announces Completion of Spin-Off from Newcastle" (Press release). Business Wire. November 7, 2014.
- ^ "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.
- ^ Kirchen, Rich (December 24, 2014). "Wes Edens-related senior living firm plans $435M acquisition". American City Business Journals.
- ^ "New Senior Announces Completion of $640 Million Acquisition of Independent Living Assets" (Press release). Business Wire. August 17, 2015.
- ^ "Walker & Dunlop Closes $465 Million Financing for New Senior Investment Group, Inc" (Press release). PR Newswire. August 19, 2015.
- ^ "New Senior Announces $296 Million of Asset Sales Under Contract" (Press release). Business Wire. October 5, 2017.
External links[]
- Business data for New Senior Investment Group Inc.:
- 2012 establishments in New York City
- American companies established in 2012
- Companies based in New York City
- Companies listed on the New York Stock Exchange
- Housing for the elderly in the United States
- Real estate investment trusts of the United States