Biggest AL provider pushes its international expansion
Sunrise Senior Living continues its current expansion phase as it entered joint-venture agreements that add to its operations four new assisted living communities in the U.S., three in the U.K. and one in Germany.
A joint venture with the California Public Employees' Retirement System and AEW Capital Management will give Sunrise 20% ownership of a California-based community. The company will own 35% of two new communities in Massachusetts and one in New Jersey through a joint venture with GEM Investors.
Sunrise also partnered up with Pramerica Real Estate Investors to own facilities in the U.K. and Germany. Pramerica is a Prudential Financial unit.
After the latest deal, Sunrise will have 26 joint-venture communities.
Sunrise oversees the operations of 376 senior-living communities in