Health Care REIT, Inc. Completes Acquisition Of Sunrise Senior Living And Sale Of Management Company
Sunrise Investments Reconciliation:
| ($’s in millions) | Total As of | Remaining | |||||||||||||||||||||
| 3Q2012 | 4Q2012 | 1/9/2013 | Today | 2013E | Total | ||||||||||||||||||
| Debt Assumed (1) | $397.8 | $397.8 | $96.2 | $494.0 | |||||||||||||||||||
| Cash Required | $243.5 | $819.5 | $1,987.4 | $3,050.4 | $729.8 | $3,780.2 | |||||||||||||||||
| Acquisition Amount | $243.5 | $819.5 | $2,385.2 | $3,448.2 | $826.0 | $4,274.2 |
| (1) | Debt assumed is net of payoffs that occurred as of closing or are expected to occur shortly after respective closing dates. | |
Sunrise Senior Living Management Company Sale:
Immediately prior to the acquisition of the Sunrise property portfolio, an entity led by affiliates of Kohlberg Kravis Roberts & Co. L.P. and affiliates of Beecken Petty O’Keefe & Company acquired the Sunrise management company for approximately $130 million, with Health Care REIT investing approximately $26 million for a 20% ownership interest. The Sunrise management company will employ the employees of Sunrise Senior Living and operate under the “Sunrise” name and brand.
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