HCN Ramps Up Sunrise JV Buy-Outs, Acquisition Now Valued at $3.2 Billion

Accelerated joint venture buy-outs have increased the real estate value of the Sunrise Senior Living (NYSE:SRZ) acquisition by Health Care REIT (NYSE:HCN) from about $1.9 billion to $3.2 billion, the investment trust announced on Tuesday. “We are extremely pleased with our initial success in reaching agreements to purchase additional Sunrise joint venture partner interests,” said […]

Sunrise Senior Living’s Management Company Business Acquired for $130 Million

Kohlberg Kravis Roberts & Co. L.P., Beecken Petty O’Keefe & Company, and Coastwood Senior Housing Partners LLC will acquire the management company business of Sunrise Senior Living (NYSE:SRZ) for approximately $130 million, Health Care REIT (NYSE:HCN) announced on Friday, Sept. 14. For its part, HCN will invest approximately $26 million for a 20% interest in […]

Health Care REIT Buys N.C. Retirement Community for $60 Million

Toledo, Ohio-based Health Care REIT (NYSE:HCN) recently acquired Magnolia Glen, a retirement community in Raleigh, N.C., for $59.96 million, reports the News & Observer.  The property was sold by Kisco Senior Living, based in Carlsbad, Calif. The community has independent living cottages and apartments and was built in 2002.  “The deal is further proof that […]

Mad Money Hosts “King of the Comeback” Mark Ordan, Sunrise CEO

The CEO of Sunrise Senior Living (NYSE:SRZ) appeared on a segment of CNBC’s Mad Money following the acquisition of his company by Health Care REIT (NYSE:HCN), and host Jim Cramer hailed the executive as the “King of the Comeback.”  “There are still some terrific executives out there who are working their butts off 24/7 to […]

Investors Riding Wave of Interest in Senior Housing, REITs Driving M&A

In the wake of Sunrise Senior Living (NYSE:SRZ) agreeing to be bought by Health Care REIT (NYSE:HCN), senior living investors are riding a wave of interest in the industry as boosted stock prices reflect favorable occupancy trends and payment rates along with other factors, according to the Tenneseean.com.  The senior living industry—including independent living, assisted […]

HCN’s Sunrise Acquisition: Not a Bargain, But Has Long-Term Strategic Value

When Toledo, Ohio-based Health Care REIT (NYSE:HCN) announced on Wednesday that it was acquiring all of the approximately 58.3 million outstanding shares of national senior living provider Sunrise Senior Living (NYSE:SRZ) for $14.50 a share, it didn’t exactly get a bargain—but it did make a smart long-term investment, analysts agree. Despite the steep price tag, […]

Health Care REIT Deal with Sunrise Could Grow to $4 Billion; What’s the Next Step?

On Wednesday, Toledo, Ohio-based Health Care REIT, Inc. (NYSE:HCN) and McLean, Va.-based Sunrise Senior Living (NYSE:SRZ) announced a mammoth merger and acquisition deal with a real estate value of $1.9 billion—a figure that has the potential to grow substantially bigger in upcoming years—but there are still plenty of details that need to be hammered out.  For one, […]

[UPDATED] Health Care REIT to Acquire Sunrise Senior Living in Deal Valued at $1.9 Billion

Health Care REIT, Inc. (NYSE:HCN) announced on Wednesday that it will acquire all of the approximately 58.3 million outstanding common stock of national senior living chain Sunrise Senior Living (NYSE:SRZ) for $14.50 per share in an all-cash transaction, totaling about $845 million. The Toledo, Ohio-based REIT will acquire Sunrise’s 20 wholly-owned senior housing communities along […]