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New Senior Announces Strategic Transaction to Sell Assisted Living/Memory Care Portfolio

NEW YORK--(BUSINESS WIRE)--New Senior Investment Group Inc. (“New Senior” or the “Company”) (NYSE: SNR) announced today that it has entered into a definitive purchase and sale agreement to sell its entire Assisted Living/Memory Care (“AL/MC”) portfolio for a gross sale price of $385 million (the “Transaction”). The Company expects the Transaction to close in the first quarter of 2020, subject to customary closing conditions. The Transaction is expected to materially improve cash flow without a significant impact to AFFO.