Emeritus Corporation (NYSE: ESC) recently announced that it has completed the closings on eight communities with approximately 825 units during the fourth quarter of 2010. Earlier in December Emeritus completed the purchase of two communities in Florida with 321 units for $21.5 million and an eighty bed assisted living community in Little Rock, Arkansas for $11.2 million. The company also closed on three other communities with another 264 units during December from its joint venture to acquire various communities formerly operated by Sunwest. Emeritus previously closed on 2 other communities in October and November.
“As part of our ongoing growth initiatives, we are pleased that we have so far added 179 communities to our portfolio in 2010, further enhancing our position as an industry consolidator,” commented Granger Cobb, President and Co-Chief Executive Officer. “We continue to pursue select opportunities that will add capacity and significant value over time.”