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Monday, November 18, 2013

BRIEF-Newcastle Investment announces agreement to acquire $1 billion of senior housing assets, (NYSE: NCT)

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 theholiday portfolio * To acquire a 52-property portfolio of senior housing properties from units ofholiday acquisition holdings llc * Says to fund the remainder of the purchase price with non-recourse mortgagedebt * Says expects the closing of this transaction to occur in December * To enter into 2 triple net master leases holiday acquisition's affiliates

Newcastle Investment Corp. (Newcastle) is a real estate investment and finance company. Shares of NCT fell by 2.7% or $-0.15/share to $5.41. In the past year, the shares have traded as low as $3.69 and as high as $6.00. On average, 3455020 shares of NCT exchange hands on a given day and today's volume is recorded at 3348236.