Revera Acquires Sunrise Senior Living
|Areas||Banking and Finance Law, Health Care Law, Tax|
Goodmans represented Revera Inc. on their acquisition, together with Health Care REIT, of the Sunrise Senior Living management company from affiliates of Kohlberg Kravis Roberts & Co. L.P., Beecken Petty O'Keefe & Company and Coastwood Senior Housing Partners LLC on April 21, 2014. Revera acquired a 76 per cent interest in Sunrise, with Health Care REIT owning the remainder. The acquisition price was undisclosed. Sunrise will continue to operate independently, managing all of its 290 communities across Canada, the United States and the United Kingdom under the Sunrise brand, from its headquarters in McLean, Virginia.
Revera is Canada’s leading provider of seniors accommodation, care and services, with approximately 250 locations across Canada and the U.S., 30,000 employees and 50 years of experience.
Health Care REIT is Revera’s strategic partner for retirement living properties; the companies have an existing, successful joint venture partnership that owns 47 retirement communities in Canada.