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May 12, 2011

Emeritus and Blackstone

Emeritus, a Seattle-based provider of senior living services, entered into an agreement with affiliates of Blackstone Real Estate Advisors to acquire 24 assisted-living communities with 1,870 units. They now are owned by a joint venture of Emeritus and Blackstone: Emeritus owns 19 percent and Blackstone owns 81 percent. The price to acquire Blackstone's interest is approximately $99 million. Emeritus has 482 communities in 42 states.




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