Brookdale Senior Living, Brentwood, Tenn., said it agreed to acquire 21 senior-living communities in 11 states from McLean, Va.-based Sunrise Senior Living for $204 million. The deal's closing, which is expected on Nov. 16, is dependent on Sunrise obtaining consent from the company's lenders under its bank credit facility by Oct. 19. Sunrise said the transaction will provide the company with the needed funds to pay down its bank line and also for additional working capital. Sunrise said it expects to record an impairment charge of about $7 million for the third quarter of 2009 to write down five of the communities to fair value.
Late News: Brookdale to buy 21 Sunrise communities
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