Emeritus pushes assisted-living purchases to $1.5 billion over last 18 months
The Seattle-based company had 29,522 units in December, second only to Sunrise Senior Living's 36,500, in a list released this month by the American Health Care Association. The deal, which involves properties scattered throughout the country, will cap a $1.5 billion buying spree over the last year and a half, the company said.
"This acquisition dovetails with our long-term strategy by giving us ownership control over our properties, lowering our long-term financing costs, and allowing us to more fully benefit from increased value we create in these communities," stated Dan Baty, one of the company's co-CEOs. The deal will raise the number of company owned facilities to 160, or more than 60% of the firm's overall holdings.