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Deal Cut for 1,500 Assisted Living Units in China

BAOTOU PROVINCE, CHINA-Two Southern California companies cut a deal for the development of 1,500 assisted living units on five parcels of land leased from the government.

By Brian K. Miller | Updated on January 10, 2006

BAOTOU PROVINCE, CHINA-Some 1,500 assisted living units will be developed in China by Sunnylife Global, a Southern California company with control over five parcels of government land in the country totaling 2,500 acres, including 1,000 acres in this province that will be developed first. The West Covina, CA-based company said Tuesday it has cut a deal with Grand Field, Inc., another California company, for the development, management and ultimate sale of the seniors housing units as condominiums.

Each land lease consists of 500 acres slated to hold a minimum of 300 units each, for a total of 1,500 units. Under the agreement, Grand Field will assume the responsibility of financing, development and sale of the completed properties. Construction on the initial two projects located in the Baotou Province of China is expected to commence in the Fall of 2006, with the balance of the three properties to be completed in 2007.

Sunnylife Global, a public company traded on the Pink Sheets, says it has developed a healthcare management system in conjunction with the Chinese government authorities. The company is in multiple joint-venture agreements with the Chinese government to renovate and revitalize China’s older hospital facilities in order to meet the current international standard. In addition, the company has patented natural products, which it plans to introduce to Chinese customers through seven different joint venture companies in China.

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