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Health Care REIT Closes $3.4B Purchase of Sunrise
2013-01-10 03:20:00| National Real Estate Investor
TOLEDO, OHHealth Care REIT Inc., based here, said Wednesday that it has closed its $3.4 billion acquisition of Sunrise Senior Living Inc., but will be acquiring additional joint venture partner interests in Sunrise properties, for a total of $900 million, by July. The $4.3 billion investment is expected to include 120 wholly owned properties and five joint venture properties. The average age of these properties is only eight years. According to Health Care REIT officials, these properties generate average monthly rental rates that are nearly 100 percent higher than the national average because they are located in markets with high concentrations of age and income-qualified elderly, affluence, and significant barriers to entry. These sites are in London, southern California, Chicago, Philadelphia, Boston, Washington D.C., and Montreal.
Tags: health
care
purchase
sunrise
Ocotillo Wind Project is First to Transmit Energy over the Sunrise Powerlink
2013-01-09 18:53:00| Transmission & Distribution World
Pattern Energy Group LP (Pattern) today announced that its Ocotillo Wind project in Southern California reached commercial operation in December and is transmitting energy to the Sunrise Powerlink, a newly constructed 117-mile 500-kv transmission line linking San Diego and the Imperial Valley.
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