B.R. senior housing community included in ownership transfer

The Sunrise Senior Living community at 9351 Siegen Lane is one of seven Sunrise properties around the country being acquired in part by CNL Healthcare Trust, an Orlando, Fla.-based real estate investment firm focused on senior housing and health care real estate. The seven acquired properties are valued at approximately $226 million, and they also include a Sunrise community in Metairie. Baton Rouge’s other Sunrise community, located at the corner of Jefferson Highway and Essen Lane, is not included in the deal. According to terms of the agreement released by the companies, CNL will own approximately 55% of the seven properties in the deal, while McLean, Va.-based Sunrise Senior Living will retain a 45% stake. Sunrise will continue to operate the communities. Approximately $50 million of CNL’s contribution in the deal was used to pay down existing financing on some of the properties, and Sunrise also received about $5 million in cash. Outside Baton Rouge and Metairie, other Sunrise communities included in the deal are located in Santa Monica, Calif.; Washington, D.C.; Gilbert, Ariz.; Louisville; and Lombard, Ill. As of March 31, Sunrise operated 308 senior communities located in the United States, Canada and the United Kingdom.