PE Group Pays $130M For Health Care REIT's Sunrise Manager

Law360, New York (September 14, 2012, 4:23 PM EDT) -- Ohio-based real estate investment trust Health Care REIT Inc. has sold off the management company business of nursing home owner Sunrise Senior Living Inc. to a group led by private equity giant Kohlberg Kravis & Roberts Co. LP for $130 million, Health Care REIT said Friday.

The deal comes on the heels of Health Care REIT's $845 million acquisition of McLean, Va.-based Sunrise Senior Living, which owns 125 retirement homes throughout the U.S., as part of a roughly $2 billion take-private deal. The REIT said that...
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