Sunrise Senior Living Completes $252 Million Sale/Manage Back Transaction

Sunrise Senior Living Web Site - September 30, 2003

Sunrise Senior Living, Inc. (NYSE: SRZ), has completed sale/long-term manage back transactions for 21 consolidated communities valued at approximately $252 million.

The closings occurred in two separate transactions including the sale/long-term manage back of a 100 percent interest in 16 communities for $158 million to CNL Retirement Properties, Inc ('CNL'). In a separate transaction, Sunrise completed the sale/long-term manage back of five consolidated senior living communities for $94 million to investment entities advised by Macquarie Capital Partners, LLC, which acquired a 90 percent interest in the venture with Sunrise retaining a 10 percent interest. Sunrise will continue to operate all 21 communities under long-term management agreements.

Sunrise Senior Living is the nation's largest provider of senior living services with over 360 senior living communities either open or under construction in the United States, United Kingdom and Canada. Sphere: Related Content