New Senior Investment Group (SNR) Tops Q3 EPS by 47c

Go back to New Senior Investment Group (SNR) Tops Q3 EPS by 47c

New Senior Investment Group (SNR) Reports Sale of Assisted Living/Memory Care Portfolio for $385M

November 1, 2019 6:15 AM EDT

New Senior Investment Group Inc. (NYSE: SNR) announced today that it has entered into a definitive purchase and sale agreement to sell its entire Assisted Living/Memory Care (AL/MC) portfolio for a gross sale price of $385 million (the Transaction). The Company expects the Transaction to close in the first quarter of 2020, subject to customary closing conditions. The Transaction is expected to materially improve cash flow without a significant impact to AFFO.

The AL/MC portfolio includes 28 properties across 14 states and consists of 2,840 units. The AL/MC portfolio is currently managed by six... More