TORONTO, April 23, 2007 /CNW/ - Sunrise Senior Living Real Estate
Investment Trust ("Sunrise REIT") (TSX:SZR.UN) confirmed today that the
closing of the proposed Ventas transaction that was approved by unitholders on
April 19, 2007 is expected to occur on or about April 26, 2007 (the "Closing
Date"), subject to the satisfaction of customary closing conditions. It is the
intention of Sunrise REIT to effect the redemption of all of its issued and
outstanding units as soon as possible on or after the Closing Date.
As previously announced, Sunrise REIT will pay to unitholders of record
on the redemption date, together with the redemption proceeds, a pro rata
amount of Sunrise REIT's regular monthly distribution for the period from
April 1, 2007 up to but excluding the Closing Date (the "April Pro Rata
Distribution"). The payment of the April Pro Rata Distribution to unitholders
indicated in the TSX Bulletin issued on April 20, 2007 for a record date of
April 25, 2007 was incorrect.
About Sunrise REIT (TSZ:SZR.UN)
Sunrise REIT was formed to indirectly acquire, own and invest in
income-producing senior living communities in major metropolitan markets and
their surrounding suburban areas in Canada and the United States. Sunrise REIT
owns 77 senior living communities, 11 in Canada and 66 in the United States.
All of Sunrise REIT's senior living communities are managed by Sunrise Senior
Living, Inc. one of the largest providers of senior living services in North
America. Sunrise REIT also directly acquires interests in newly developed
senior living communities through development and financing arrangements with
Sunrise Senior Living, Inc.
For further information:
For further information: Sunrise REIT: Douglas MacLatchy, (416) 644-4954