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Sunrise Forms $1B European JV With PREI

MCLEAN, VA-The JV will add another 1800 beds to Sunrise's European portfolio.

By Erika Morphy | Updated on January 11, 2007

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

MCLEAN, VA-Sunrise Senior Living Inc. and Parsippany, NJ-based Prudential Real Estate Investors are forming another joint venture to fund additional development in the European market. The new JV, which will have a total investment capacity of $1 billion, is a de facto extension of the two firms’ first joint venture that launched in 2002.

“We still have a very large pipeline from that JV; there is still incredible demand for our product in the market,” Lisa Mayr, Sunrise’s vice president, Investor Relations and Capital Markets, tells GlobeSt.com.

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