BDT & MSD Partners will acquire Sunrise Senior Living for $1 billion, according to the The Wall Street Journal.
The deal, which is expected to close in 2027 pending regulatory approval, transfers control from Canada’s Public Sector Pension Investment Board. The firm purchased Sunrise in 2014 before becoming its sole owner nine years later. Sunrise Senior Living opened in 1981 in Virginia, where it’s still headquartered today. The company’s current leadership, including Chief Executive Officer Jack Callison Jr., will retain a minority stake in the business.
Development Pipeline and Operations
Headquartered in Virginia, Sunrise operates more than 230 communities across the U.S. and Canada, providing independent, assisted living, memory care and skilled nursing services, as well as hospice coordination. The portfolio includes 215 properties in 27 states, with a heavy concentration in New Jersey, California, Virginia, and Illinois. Its national portfolio comprises 215 properties across 27 states and Washington, D.C., with most of them located in New Jersey (27), California (25), Virginia (22) and Illinois (21). The firm also manages a development pipeline of over 50 communities with an estimated cost of $7.5 billion.
BDT & MSD Partners, which has focused on residential and hospitality assets throughout the United States, is now moving into senior housing with this deal, its inaugural investment in that segment. The deal, reported by The Wall Street Journal at a price of $1 billion, is expected to be finalized in 2027 pending the usual regulatory clearances, and will be advised by J.P. Morgan Securities together with Jones Lang LaSalle Securities.
In March, Sonida Senior Living finalized a $1.8 billion acquisition of CNL Healthcare Properties, raising it to the eighth-largest operator of senior-living facilities in the country, with about 14,700 units under its control. Two months after that, LCS purchased Vi Living, bringing its portfolio to 130 communities across 29 states. The Vi luxury brand remains a separate entity within LCS, and its former management continues to run day-to-day operations.
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