SEATTLE-Emeritus Corporation, the nation's largest provider of assisted living and memory care services, has entered into definitive agreements with Health Care REIT, Inc. and Merrill Gardens under which Emeritus will lease a total of 38 senior housing communities, currently owned by a joint venture comprised of HCN and Merrill Gardens.

The communities are located in eight states, concentrated primarily in Washington and California, and offer independent living, assisted living and memory care services. They represent approximately 4,400 units, and more than 40% are currently designated as independent living.

“Expanding in the independent living arena complements our well-established assisted living, memory care and home healthcare services,” said Granger Cobb, the company's president and CEO. “It enables us to better meet the evolving needs of the growing senior population. This accretive transaction also represents an opportunity to consolidate community operations in what continues to be a fragmented market, while expanding our relationship with Health Care REIT.”