Pharma Investments, Ventures & Law Weekly
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Health Care REIT, Inc.
Health Care REIT to Acquire 29 Sunrise Senior Living Properties
September 21st, 2008
Health Care REIT, Inc. (NYSE:HCN) has entered into an agreement with an affiliate of Arcapita, Inc. to acquire its 90% interest in a venture owning 29 senior housing properties managed by Sunrise Senior Living, Inc. (NYSE:SRZ) for approximately $643.5 million, subject to final due diligence and excluding transaction costs. Health Care REIT's purchase will be financed with approximately $365.4 million in cash, plus a 90% interest in the $309 million of existing debt held by the venture. This transaction will build upon the success of Health Care REIT's extensive relationship investment program and further strengthen the quality of its diversified portfolio of properties. ...
Source: Pharma Investments, Ventures & Law Weekly (2008-09-21)
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