- New Senior (NYSE:SNR) expects to invest about $135M of cash on hand for the 17-property portfolio from Hawthorn Retirement, and fund the remainder of the purchase with debt.
- The portfolio is 100% private-pay and contains 2,082 unit in 10 states with an average occupancy rate of 92%. It's expected to generate a NOI yield of about 6.3%.
- The purchase allows the scale-up of the company to continue, and New Senior's portfolio will now be up to 117 properties and more than 14.5K beds.
- In a separate deal, New Senior announces the purchase of a 66-bed memory care community for $15.7M at an NOI yield of 7.8%.
- investor presentation
- Source: Press Release