Sunrise Senior Living Expands

MCLEAN, VA-Sunrise Senior Living Inc.–which presently operates nearly 400 senior living properties across the country, as well as in Canada, Germany and the United Kingdom–has made a move to increase its management and ownership portfolio. The company has entered into an agreement to purchase management contracts for 19 communities in 13 states, ownership interest in 18 of those communities and several undeveloped land parcels from Tucson-based Fountains Continuum of Care Inc.

Sunrise will purchase the 19 management contracts, the undeveloped parcels and a 20% interest in the 18 properties. A third party, an unnamed capital partner, will purchase 80% interest in the 18 communities in a joint venture with Sunrise.