Sunrise Senior Living Sold to Health Care REIT for $845M
The Washington Post and several other news outlets reported last week on the sale of Sunrise Senior Living of McLean has agreed to be acquired by Health Care REIT, an Ohio-based health-care property owner, in an all-cash deal worth $845 million.
According to the Washington Post article the deal “is expected to close in the first half of 2013 and is subject to shareholder
approval. Sunrise, which veered toward the edge of bankruptcy after an accounting scandal, only to shed millions of dollars’ worth of assets during a turnaround, manages more than 300 facilities in the United States, Canada and Britain. The company owns 20 senior communities outright and has interests in 105 others, in addition to the ones it manages.
The sale closes a chapter on a story that began 31 years ago, when Sunrise founders Paul and Terry Klaassen started the company’s first residential-based senior living community off Glebe Road in Arlington County, one of the first of its kind.”