Health Care Property makes bid for Sunrise
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Long Beach-based Health Care Property Investors Inc., the largest U.S. owner of real estate for healthcare providers, offered to buy Toronto-based Sunrise Senior Living Real Estate Investment Trust for $1.2 billion.
Health Care Property said its offer represented a 20% premium above an offer by Ventas Inc. A special meeting for Sunrise Senior Living shareholders is scheduled March 27 to consider the Ventas offer.
Health Care Property, whose market value is almost $8.2 billion, bought CNL Retirement Properties Inc. last year for $3.6 billion, boosting its holdings to about 800 properties.
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