NEW YORK–(BUSINESS WIRE)–New Senior Investment Group Inc. (“New Senior” or the “Company”)
(NYSE:SNR) announced today that it has completed the refinancing of a
$720 million secured loan (the “Loan”) with Freddie Mac arranged through
KeyBank Real Estate Capital. The Loan has a term of seven years and
bears interest at LIBOR plus 232 basis points, an improvement of
approximately 170 basis points, or $12 million annually, versus the
prior financing. Additionally, the refinancing improved the Company’s
weighted average debt maturity from three years to over five years.
ABOUT NEW SENIOR
New Senior Investment Group (NYSE: SNR) is a publicly-traded real estate
investment trust with a diversified portfolio of senior housing
properties located across the United States. As of June 30, 2018, New
Senior is one of the largest owners of senior housing properties, with
133 properties across 37 states. New Senior is managed by an affiliate
of Fortress Investment Group LLC, a global investment management firm.
More information about New Senior can be found at www.newseniorinv.com.
For New Senior Investment Group Inc.
David Smith, 212-515-7783