The portfolio of properties, valued at about $115.5 million,will be owned and operated through a joint venture between CalPERS,the pension fund's senior housing investment adviser AEW CapitalManagement, based in Boston, MA, and Sunrise Assisted Living Inc.of McLean, VA, one of the nation's largest providers of assistedliving facilities for seniors.

"These are welcomed additions to our investment portfolio," saysDaniel M. Szente, CalPERS chief investment officer. "They will beimportant investments in the future given the rapid growth rate oftoday's senior population and will assist retirees in the laterstages of their lives."

The seven Sunrise Assisted Living facilities are located inCarlsbad, Naperville, IL; Stanford, CT; Richmond, VA; NorthLynbrook, NY; and in East Brunswick/Woodcliff Lake, NJ.

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