Kohlberg Kravis Roberts & Co Acquiring Management Company Business of Sunrise Senior Living
Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, “KKR”), Beecken Petty O'Keefe & Company (“BPOC”) and Coastwood Senior Housing Partners LLC today announced the signing of a definitive agreement to acquire the management company business of Sunrise Senior Living, Inc. (“Sunrise”), a leading provider of senior living services and housing, for approximately $130 million. Health Care REIT (“HCN”) will also invest approximately $26 million for a 20% interest in the business. The acquisition is expected to close immediately prior to HCN's previously announced acquisition of Sunrise discussed below.
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