TOLEDO, OH-Locally based Health Care REIT Inc. entered into a definitive agreement to acquire Sunrise Senior Living Inc.‘s outstanding common stock at $14.50 per share. Once the $1.9 billion acquisition closes in the first half of 2013, Health Care REIT will have control of more than 58,000 units in the US, Canada and the United Kingdom, placing it among one of the largest owners of senior housing worldwide.

As part of the acquisition, Health Care REIT will acquire the McLean, VA-based Sunrise’s 20 wholly owned seniors housing communities (located in the US and Canada) and Sunrise’s interest in joint ventures that own 105 seniors housing communities, located in the US and UK. Approximately $950 million will be paid in cash, with the balance through debt assumption at an average interest rate of 4.9%.

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