Sunrise Assisted Living, McLean, Va., said it is in discussions with Marriott International for the cash purchase of Marriott Senior Living Services, Washington. Sunrise is the nation's third-largest assisted-living chain, operating 177 facilities with 14,453 beds. Marriott Senior Living is the fourth-largest chain, with 111 facilities and 9,313 beds. If the deal is completed, Sunrise said it would enter into long-term management contracts with a co-bidder. The acquisition would be "consistent with Sunrise's strategy of becoming a company focused on facility management," Jeffries & Co. analyst Frank Morgan said in a research note. Sunrise has plenty of available capital, Morgan said; at the end of the third quarter, the chain had $45.6 million in cash and $206 million in unused credit. -- by Julie Piotrowski
Sunrise in talks to buy Marriott senior living unit
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