SOUTHWEST–New York-based Newcastle InvestmentCorp. has purchased six senior housing communitiesthroughout Texas. The purchase price totaled $186 million,excluding transaction costs.

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While the exact properties and sellers were not disclosed, thispurchase of the rental continuing care retirement communities willadd 1,265 beds to Newcastle's portfolio.

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Simultaneous to this purchase, Newcastle and LifecareCos. have entered into a triple-net master leaseagreement. The lease has an initial 15-year term with two 5-yearrenewal options.

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As GlobeSt.com reported in mid-June, Newcastlefiled a registration statement to spin off its seniorhousing business into a REIT that willtrade under the name New Senior Investment Group.The move comes about six months after the New York City-basedinvestment firm, one of the largest publicly traded players in thespace, acquired a 51-property portfolio from an affiliate ofHoliday Retirement for $1.04 billion.

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In the last two years, Newcastle has invested more than $700million into acquiring 95 senior housing properties. Thesepurchases have added 11,900 bed and more than $1.8 billion inassets to the company's holdings.

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Newcastle was unable to be reached for comment beforedeadline.

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