trending Market Intelligence /marketintelligence/en/news-insights/trending/qn9Y_I9I65N1_Z8af561_w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

New Senior Investment expects to close on $296M in asset sales in Q4

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


New Senior Investment expects to close on $296M in asset sales in Q4

New Senior Investment Group expects to close on $296 million in property sales during the fourth quarter.

The deals comprise the $186.0 million sale to LCS Dallas II LLC of six triple-net-leased properties, including four continuing care retirement communities, and termination of the related lease with LCS Dallas Operations LLC; and the $109.5 million sale of nine properties managed by Holiday Retirement to GAHC4 Central Florida Senior Housing Portfolio LLC.

The leased portfolio sale transaction equates to a 6.6% cap rate on second-quarter annualized net operating income generated by the portfolio, while the managed portfolio sale deal reflects a 5.1% cap rate on second-quarter annualized cash NOI. The company expects the leased portfolio sale agreement to close Nov. 15, subject to two 30-day extension options.

New Senior expects the leased portfolio sale to substantially eliminate its exposure to skilled nursing and substantially reduce its exposure to the competitive Dallas metropolitan area. It also expects the managed portfolio sale to unload noncore, underperforming assisted living/memory care facilities with low NOI margins.

The company expects net proceeds from the sales to amount to roughly $117.5 million after repaying about $178 million of existing debt. The net proceeds will go toward general corporate purposes, which may include new investments, debt prepayment and common share repurchases.