CHICAGO-Chicago-based Ventas Inc. has acquired 58 senior housing communities for an amount of $186 million from affiliates of McLean, VA-based Sunrise Senior Living Inc. The REIT, which initially had 15% to 25% ownership, receives full ownership in the senior housing communities with the deal.
The firm owns 79 communities managed by Sunrise Senior Living. The 58 communities are currently more than 89% occupied. As per the terms of the deal, the REIT will assume control over the share of Sunrise. For the full story, go to Crain's Chicago Business.
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