Ventas acquires Sunrise Senior Living Real Estate Investment Trust (Sunrise REIT)

Ventas acquired Sunrise Senior Living Real Estate Investment Trust (Sunrise REIT) for approximately Cdn $2.26 billion total (approximately USD $1.96 billion); Cdn $1.2 billion cash plus assumed debt, a transaction completed in April 2007, structured as cash plus assumption of debt.

Sunrise Senior Living Real Estate Investment Trust (Sunrise REIT) operates in Private-pay senior housing (Canada and U.S.), is based in United States and Canada (77 communities). Ventas acquired the assets of Sunrise Senior Living REIT (TSX: SZR.UN), a portfolio of 77 high-quality private-pay senior housing communities, for Cdn $1.2 billion in cash plus assumption of all outstanding debt, valuing the transaction at approximately Cdn $2.26 billion. All outstanding units were redeemed at Cdn $16.50 per unit. The deal included exclusive development arrangements with Sunrise Senior Living, Inc.

Ventas called the acquisition of Sunrise REIT's 77 high-quality private-pay senior housing communities a major milestone, with exclusive development arrangements expected to lead to significant accretive acquisitions in the United States and Canada.

Added 77 high-quality private-pay communities and a development relationship across the U.S. and Canada. Exclusive development arrangements with Sunrise Senior Living expected to drive accretive future acquisitions. Integrated into the Ventas private-pay senior housing portfolio