Twenty-three-year-old Greystone's purchase price--which will bemet by Sunrise through its cash holdings and funds from a corporatecredit facility--will be about $45 million, plus $7.5 million inannual performance rewards through 2007, for an estimated possibletotal of $52.5 million.

"This acquisition will further establish Sunrise as a leadingCCRC operator," says Sunrise chairman and CEO Paul Klaassen."Greystone is a first-class organization and its presence as aleader in the large and growing not-for-profit CCRC business allowsSunrise to immediately expand into that sector, which shouldenhance our future growth."

There will not be an actual exchange of any real estateproperties involved in the deal. When all is said and done with thetransaction, Greystone will exist as a division of Sunrise underthe direction of existing Greystone management.