NEW YORK CITY—New Senior Investment Group, theseniors housing REIT spun off last October fromNewcastle Investment Corp., has closed on its latest acquisition, aprivate-pay independent living portfolio from affiliates ofHoliday Retirement. Walker &Dunlop said Wednesday afternoon it had closed on $464.7million worth of financing for the 28-property portfolio, itssecond big financing on the REIT's behalf.

SNR announced in late June that it would pay $640 million toacquire the 3,298-unit Holiday portfolio, which is located across21 states and concentrated in California, Florida, North Carolinaand Oregon. It also adds five states to SNR's footprint: Arizona,South Dakota, South Carolina, Hawaii and Indiana.

In late June, CEO Susan Givens said the dealwould increase the company's NOI from private-pay seniors housingto 91% of the total. When the deal closed earlier this week, thatpercentage had been boosted slightly to 92%.

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Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.