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SEATTLE-Emeritus Corp. and HCP Inc. have agreed to purchase 142 senior housing communities owned by a joint venture composed of Emeritus, Blackstone Real Estate Partners, certain former tenants-in-common and an investment fund affiliated with Dan Baty, Emeritus’ chairman. Emeritus owns a roughly 6% interest in the Blackstone joint venture and has been operating the communities since 2010 under management agreements for a fee equal to 5% of collected revenues. GlobeSt.com was unable to reach the parties before deadline to determine where the communities being sold are located or any other unifying features.

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