World News: 11:30 GMT Friday 12th October 2018. [New Senior Investment Group Inc. via Businesswire via SPi World News]
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.
Business Wire: 11:30 GMT Friday 12th October 2018
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