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Sunrise Senior Living Ties Up Bay Area Assets

SAN FRANCISCO-The McLean, VA-based public company agrees to acquire the operating assets of three continuing care communities with approximately 200 units.

By Brian K. Miller | Updated on July 31, 2006

(To read more on the multifamily market, click here.)

SAN FRANCISCO-Sunrise Senior Living Inc. has agreed to acquire the operating assets of three Bay Area continuing retirement communities. The three communities have annual revenues of approximately $10 million and capacity for more than 200 units. The total purchase price is $28 million. The transaction is expected to close in the next 45 days.

The properties include The Carlisle, a high-rise located on Cathedral Hill in San Francisco; The Stratford, located across from Central Park in San Mateo; and Webster House, located one mile from Stanford University. McLean, VA-based Sunrise says the 100% private pay properties are geographically clustered near Sunrise’s other Bay Area communities.

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