Sunrise Senior Living Inc. has completed its sale of 21 assisted-living communities to BLC Acquisitions Inc. for $204 million.
Sunrise announced the deal in October. Earlier this week Sunrise said the sale, which was expected to be final by Nov. 16, was being delayed because the company was still in the closing process.
McLean-based Sunrise nets $60 million from the sale after paying off mortgages. It will use $25 million to reduce debt and an additional $20 million as collateral for other creditors.
BLC Acquisitions is an affiliate of Brookdale Senior Living Inc. (NYSE: BKD), based in Brentwood, Tenn.
Sunrise (NYSE: SRZ) posted a net loss of $82 million last quarter
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