Arcapita completes US$630 million sale of US portfolio
Arcapita Bank B.S.C. announced today that it and its affiliates have completed the sale of a portfolio of 29 senior living communities in the United States.
The portfolio is being acquired by a joint venture between Sunrise Senior Living, Inc. and CNL Lifestyle Properties, Inc. for a total transaction value of US$630 million. Returns to investors will exceed the projections made at the outset of the investment seven years ago.