Industries Healthcare

Sunrise Senior Living to be sold in $845 million all-cash deal

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McLean-based Sunrise Senior Living Inc. has agreed to be sold to Health Care REIT Inc. in an all-cash deal worth $845 million.

Health Care REIT will buy all of Sunrise’s outstanding common stock for $14.50 per share.  The deal, which has been approved by the Sunrise board of directors,  represents a 62.4 percent premium to Sunrise’s closing stock price on Tuesday.

Health Care REIT,  based in Toledo, Ohio, is a real estate investment trust that invests in seniors housing and health care real estate. As of June 30,  the company’s portfolio included 1,010 communities in 46 states and Canada.

Sunrise Senior Living operated 307 communities in the U.S., Canada and the United Kingdom, with a total capacity of approximately 29,800 units. The company employs about 31,600 people.
The deal, subject to regulatory review and approval by Sunrise’s shareholders, is expected to close in the first half of next year.

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