ORLANDO-In a joint venture with Sunrise Senior Living, CNL Lifestyle Properties has snapped up 29 senior living communities across 12 states in a transaction valued at $630 million. The acquisition marks CNL Lifestyle Properties’ entry into the senior living market and complements the REIT’s demographics-driven investment strategy.

Sunrise will operate the communities under a long-term management agreement. Goldman Sachs Lending Partners provided $435 million in financing for the deal. CNL owns 60% of the joint venture. Sunrise owns the remaining 40%.


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