Health REIT Pays $1B To Buy Out Sunrise Majority Partners

Law360, New York (September 18, 2012, 4:06 PM EDT) -- Ohio-based Health Care REIT Inc. said Tuesday it had agreed to pay $1.3 billion to buy out majority partners in 38 of the joint venture properties it acquired when it took Virginia-based retirement community operator Sunrise Senior Living Inc. private last month.

The real estate investment trust, which announced in August it would buy Sunrise in a roughly $2 billion take-private deal, assumed control over 105 Sunrise joint venture properties in the U.S. and U.K., as well as Sunrise’s 20 wholly owned retirement centers in the...
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