Sunrise Senior Living, Inc. Enters into a Purchase Agreement for the Purchase of Joint Venture Interests (SRZ)

Sunrise Senior Living SRZ announced today that certain of its subsidiaries have entered into a purchase and sale agreement with a group of funds affiliated with Morgan Stanley for the purchase by the Company of the funds' 80% ownership interest in a joint venture entity, AL US Development Venture, LLC, that owns 15 senior living facilities, for a purchase price of approximately $45 million. Average unit occupancy for the portfolio in 2010 was 87.3% and total NOI for the year was approximately $25.9 million.