NEWTON, Mass.--(BUSINESS WIRE)--Senior Housing Properties Trust (NYSE: SNH - News) today announced that it has closed a $512.9 million mortgage financing with Fannie Mae (NYSE: FNM - News), on the following terms:
Amount of loan: $512.9 million.
Maturity: 10 years.
My comment is that this is an example of the kind of news that is boosting CRE. Now Fannie Mae is going to finance REITS and this is the largest deal they've done so far. REITs are on fire. Do yourself a favor and do not hold SRS more than a few hours at a time. Over night or two days or more and you will get killed. Trade in and out and when you get 25 cents or 50 cents (if you are lucky) then cash out.