Sunrise says 'Auf Wiedersehen' to German assisted living facilities

Share this article:

Sunrise Senior Living Inc on Thursday announced the sale of eight of its nine assisted living facilities in Germany for an estimated $74.5 million.

The sale comes as part of a restructuring agreement with Sunrise╒s German lenders. Proceeds from the sale, which is expected to close on or around Aug. 31, will go directly to those lenders, according to a company press release. Once the sale closes, management of these eight communities will transfer to Kursana Seniorenvilla GmbH, a Germany-based senior living provider, according to a company statement.

Sunrise is still looking for a buyer for its ninth German facility. The company operates 365 communities in the United States, Canada, Germany and the United Kingdom.

Share this article:

More in News

Bill addressing admission status receives praise

A bill that would require hospitals to give patients a formal notice of their admission status has received strong support from healthcare associations.

Increased 'bed taxes' on nursing facilities warrant stricter federal oversight, report states

States have been increasingly taxing skilled nursing facilities and other healthcare providers to fund Medicaid in recent years, and federal authorities should look more closely at this trend, according to a government report released Tuesday.

Last chance: Tech Awards deadline arrives

Last chance: Tech Awards deadline arrives

There are hours left for innovative long-term care providers to enter the third annual McKnight's Excellence in Technology Awards. Submissions will be accepted until the stroke of midnight tonight.