Sunrise Senior Living sells German properties
- June 4, 2010
Sunrise Senior Living Inc. has agreed to sell eight of its nine assisted-living communities in Germany for around $75 million.
The retirement living community company had previously said had entered into restructuring and settlement agreements with lenders involved with its nine German communities. Part of those agreements included marketing and selling the properties.
The deal is expected to close Aug. 31. Management will be transferred to Kursana Seniorenvilla GmbH, a senior living company in Germany.
Sunrise’s ninth property is still up for sale.