Regions

NEWCASTLE ANNOUNCES AGREEMENT TO ACQUIRE $1 BILLION OF SENIOR HOUSING ASSETS FROM HOLIDAY RETIREMENT

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November 18
9:13 PM 2013

Newcastle Investment Corp:

  • Announces agreement to acquire $1 billion of senior housing assets from holiday retirement 
  • Says expects to invest approximately $300 million of equity to acquire the holiday portfolio 
  • To acquire a 52-property portfolio of senior housing properties from units of holiday acquisition holdings llc 
  • Says to fund the remainder of the purchase price with non-recourse mortgage debt 
  • Says expects the closing of this transaction to occur in December 
  • To enter into 2 triple net master leases holiday acquisition's affiliates with 1st-year rent equal to 6.5% of purchase price 

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