Newcastle Investment Corp. (Newcastle) is a real estate investment trust (REIT) that focuses on investing in and managing real estate related and other investments. The Company invests in senior housing properties, real estate debt, and golf and other investments. In Senior Housing investments, Newcastle owns 51 independent living (IL-only) that are triple net leased to Holiday. The Company has 33 managed properties, including 2 IL-only properties and 31 properties with some combination of independent living. In addition to senior housing, Newcastle also invest in real estate and other related debt. The Company actively manages collateralized debt obligations (CDOs) and several other real estate investments. The Company owns a portfolio of 90 golf courses across 15 states. The Company categorizes its owned and leased golf courses as public or private.