Foley Successfully Represents Revera Inc. in Investment of Sunrise Senior Living
11 February 2014
Foley successfully represented Revera Inc., a leading provider of seniors’ accommodation, in a new co-investment with Health Care Reit in the ownership of the Sunrise Senior Living management company. Sunrise Senior Living is a Virginia-based company that currently operates 290 communities in the United States, Canada and the United Kingdom offering a full range of personalized senior living services.
Upon completion of the transaction, Revera will own a 76% interest in Sunrise and Health Care Reit will own the remainder. Health Care Reit and Revera are obtaining their interests in Sunrise from affiliates of Kohlberg Kravis Roberts & Co. L.P., Beecken Petty O’Keefe & Company and Coastwood Senior Housing Partners LLC. The transaction is projected to close in the second quarter of 2014, subject to regulatory approvals.
Earlier last year, Foley represented Revera in a $1.35 billion joint venture with Health Care REIT which shares ownership of 47 retirement homes in Canada.
Foley attorney Chris Donovan successfully represented Revera as lead counsel on the agreement.
Upon completion of the transaction, Revera will own a 76% interest in Sunrise and Health Care Reit will own the remainder. Health Care Reit and Revera are obtaining their interests in Sunrise from affiliates of Kohlberg Kravis Roberts & Co. L.P., Beecken Petty O’Keefe & Company and Coastwood Senior Housing Partners LLC. The transaction is projected to close in the second quarter of 2014, subject to regulatory approvals.
Earlier last year, Foley represented Revera in a $1.35 billion joint venture with Health Care REIT which shares ownership of 47 retirement homes in Canada.
Foley attorney Chris Donovan successfully represented Revera as lead counsel on the agreement.
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