Newcastle Investment Corp:
- Announces agreement to acquire $1 billion of senior housing assets from holiday retirement
- Says expects to invest approximately $300 million of equity to acquire the holiday portfolio
- To acquire a 52-property portfolio of senior housing properties from units of holiday acquisition holdings llc
- Says to fund the remainder of the purchase price with non-recourse mortgage debt
- Says expects the closing of this transaction to occur in December
- To enter into 2 triple net master leases holiday acquisition's affiliates with 1st-year rent equal to 6.5% of purchase price
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