Sunrise Senior Living is getting a new owner.
The senior living operator announced Tuesday that BDT & MSD Partners is acquiring a majority stake in Sunrise from the Public Sector Pension Investment Board as part of a reportedly billion-dollar deal. Sunrise’s senior leadership team will own the remaining stake.
With a development pipeline of more than 50 communities expected to total $7.5 billion in costs, Sunrise is embarking on what CEO Jack Callison Jr. said is likely “the largest actionable development pipeline in the entire industry” today.
The ownership change marks a new era in Sunrise’s history, which began in 1981 with Paul and Terry Klaassen. The company’s last major test came in the form of the Covid-19 pandemic, and now, Sunrise is turning the page on that period. The company’s leaders are forging ahead with a strategy centered on operating luxury, hospitality-oriented senior living communities.
“This is now the 3.0 era of Sunrise, which is hyper growth,” Callison told Senior Housing News Tuesday morning.
Sunrise today operates more than 230 communities across the United States and Canada and serves about 22,000 residents.
BDT & MSD has backed businesses including Greystar, Speed Bay, and Auberge Collection. The company’s owned and operated assets include Four Seasons Hualalai, The Boca Raton, and Four Seasons Jackson Hole.
This is a developing story that will be updated.
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