Item 2.01 Completion of Acquisition or Disposition of Assets.
On December 3, 2008, Five Star Quality Care, Inc. (the "Company") purchased
seven independent living, assisted living and Alzheimer's care communities, four
of which were located in North Carolina and three in South Carolina, for a
purchase price of $44 million. The seven acquired communities were previously
owned and operated by affiliates of Sunwest Management, Inc. and have a total of
601 living units and an average occupancy of 70%. The Company financed this
acquisition with cash on hand and drawings under its recently established UBS AG
non-recourse credit facility.
Add
FVE to Portfolio
Set Alert
Email to a
Friend