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Stock Market & Financial Investment News

News Breaks
June 16, 2014
08:51 EDTSNR, NCTNewcastle Investment announces spin-off of senior housing business
Newcastle Investment (NCT) announced that its board has unanimously approved a plan to spin off its senior housing business. Newcastle intends to effect the spin-off by distributing shares of its subsidiary, New Senior Investment Group (SNR). New Senior will be a publicly traded real estate investment trust that primarily targets senior housing related investments. New Senior has filed a registration statement with the U.S. Securities and Exchange Commission with respect to the planned spin-off. The spin-off is subject to certain conditions, such as the SEC declaring effective New Senior’s registration statement, the filing and approval of an application to list New Senior’s common stock on the NYSE and the formal declaration of the distribution by the board.
News For NCT;SNR From The Last 14 Days
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December 22, 2014
06:46 EDTSNRNew Senior to acquire $435M of senior housing assets
New Senior announced it has entered into an agreement to acquire a 17-property portfolio of private pay, independent living senior housing properties from affiliates of Hawthorn Retirement Group LLC for approximately $435M. The company expects to invest approximately $135M of existing cash to acquire the Portfolio and to fund the remainder of the purchase price with debt. The Portfolio is 100% private pay and contains 2,082 units located across 10 states and had an average occupancy rate of 92% for November 2014. The company expects the closing of the acquisition to occur by the end of the first quarter of 2015. The closing is subject to customary closing conditions, and there can be no assurance as to the timing or the occurrence of the closing.
December 19, 2014
17:20 EDTSNRNew Senior names Justine A. Cheng as CFO
The Board of Directors of New Senior Investment Group (SNR) has appointed Justine A. Cheng as CFO and Treasurer effective as of December 19. New Senior was spun off from Newcastle Investment Corp. as an independent publicly traded company in November and is managed by Newcastle’s manager, FIG, which is an affiliate of Fortress Investment Group (FIG). Cheng has been actively involved with New Senior as CFO and Treasurer of Newcastle.
December 11, 2014
06:12 EDTSNRLevin Capital Strategies reports 5.96% passive stake in New Senior

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