Toledo, Ohio-based Health Care REIT today announced its agreement to purchase Sunrise Senior Living, MCLean, Va., for $1.9 billion.
The deal includes Sunrise’s 20 senior communities in the United States and Canada, and its joint venture interests in 105 additional communities in the United States and the United Kingdom.
“This acquisition powerfully advances our strategic vision: own the highest quality, private pay seniors housing communities in strong, growing, affluent markets and align with experienced, dynamic management teams,” said George L. Chapman, Health Care REIT's chairman and CEO, in a corporate press statement. “There are few opportunities to acquire assets of this quality in a transaction of this scale.”
The acquisition will increase Health Care REIT's total units to approximately 58,000 units across three countries.