5 September 2007

Freshfields advises Morgan Stanley Real Estate on $1.1bn acquisition of Sunrise Senior Living

International law firm Freshfields Bruckhaus Deringer has advised Morgan Stanley Real Estate on the acquisition of a portfolio of five star senior living and care facilities throughout the UK, operated by the UK arm of Sunrise Senior Living, the US-based assisted living operator, in one of the biggest deals in the care home sector worth $1.1bn.

As a result of the acquisition, Morgan Stanley Real Estate Fund will have a 90 per cent stake in a joint venture with the remaining 10 per cent being held by Sunrise, which will operate the communities under 30 year management agreements.

US-based Sunrise Senior Living, Inc. is the largest global senior living operator and currently operates 15 communities across the UK.

Freshfields real estate partner Ursula Harriss said, ‘This is an exciting development of the care sector investment market combining care and five star hotel sectors in an innovative arrangement.’

The Freshfields team also included real estate associate Janan Kanagaratnam, corporate partners Matthew Cosans and Karen Fountain, corporate associates Daniel Hepher and Daniel Wong, dispute resolution partner Jane Jenkins and associate Lucinda Kelly and intellectual property counsel Jodie Flynn.

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