The resort's Ocean Tower recently received a multi-million dollar renovation, and as
part of the
transaction agreement, the
joint venture has agreed to make further meaningful capital improvements including renovation
of the Beach Tower and updates to the resort's public areas and food and beverage outlets.
As
part of the
transaction, Health Care REIT will acquire Sunrise's 20 wholly owned seniors housing communities and Sunrise's interest in
joint ventures that own 105 seniors housing communities.