Newcastle Investment Corp. (Newcastle), is a real estate investment trust (REIT). The Company focuses on investing in, and managing, a variety of real estate related and other investments. The Company invests in senior housing properties, real estate debt and other investments. In the senior housing business, it acquires and owns senior housing properties. The Company conducts its business through the following segments: investments in senior housing properties (senior housing), debt investments financed with collateralized debt obligations (CDOs), other debt investments (Other Debt), investments in media (Media), investment in golf courses and facilities (Golf) and corporate. The Company’s managed properties are managed by affiliates or subsidiaries of either Holiday Acquisition Holdings LLC (Holiday) or FHC Property Management LLC (together with its subsidiaries, Blue Harbor).