MHProNews.com has learned Newcastle Investment Corp. (NYSE:NCT) completed the sale of its manufactured housing portfolio that had a face amount of $222 million and was sold at 104 percent of par, $231 million. Part of the proceeds will go towards $152 million in debt expense, says businesswire.com. Newcastle received total proceeds of $85 million from the sale, generating a gain of $20 million in Q2 2014. The company is a real estate investment trust (REIT) that specializes in senior housing, real estate debt and golf and other investments. It could not be immediately determined what asset was sold nor to whom. ##

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