Ventas (VTR) to Acquire 16 Private Pay Living Communities from Sunrise (SRZ) in $362M Deal
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Ventas, Inc. (NYSE: VTR) has reached a definitive agreement to acquire a 100 percent interest in 16 private pay seniors living communities from affiliates of Sunrise Senior Living, Inc. (NYSE: SRZ) and its institutional joint venture partner for $362 million.
The transaction is expected to be immediately accretive to normalized funds from operations (FFO) per share and will be funded through borrowings under the Company’s revolving credit facility. All of the properties will be acquired unencumbered. The transaction is expected to close in the second quarter of 2012.
The transaction is expected to be immediately accretive to normalized funds from operations (FFO) per share and will be funded through borrowings under the Company’s revolving credit facility. All of the properties will be acquired unencumbered. The transaction is expected to close in the second quarter of 2012.
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