PRN RN

BDT & MSD to acquire Sunrise Senior Living for $1B. October 6, 2026 MCLEAN, Va. - Funds affiliated with BDT & MSD Partners have entered into a definitive agreement to acquire operator Sunrise Senior Living. According to The Wall Street Journal, the acquisition price is $1 billion. PSP Investments is the seller. The Sunrise senior leadership team, led by Jack Callison, the chief executive officer, will remain in place. Founded roughly 45 years ago, Sunrise currently operates a portfolio of more than 230 communities throughout the U.S. and Canada, serving more than 22,000 residents. Headquartered in Virginia, Sunrise ranked as the sixth-largest seniors housing operator in the U.S. in the 2026 edition of the ASHA 50. The company comprises a third-party management business, a joint venture investment platform and a development arm. Sunrise's current development pipeline totals more than 50 new communities with a total expected development cost of approximately $7.5 billion. PSP Investments first invested in Sunrise in 2014 and became the sole owner in 2023. The transaction is expected to close in 2027, subject to customary regulatory approvals. J.P. Morgan Securities and Jones Lang LaSalle Securities are serving as advisors to PSP Investments. "Sunrise is guided by a singular purpose: championing quality of life for older adults by creating environments that support longer, healthier and happier lives," says Callison. "We thank PSP Investments for its support during a period of strong growth and evolution for Sunrise. We are excited to build on that progress with BDT & MSD as our majority investor."

Sunrise Senior Living acquires development site on Long Island for $7.5M. October 1, 2026 OCEANSIDE, N.Y. - Sunrise Senior Living has acquired a 2.8-acre development site in the Long Island community of Oceanside for $7.5 million, with plans to develop an 84-unit assisted living and memory care facility. Kelly Koukou of Lee & Associates represented Sunrise in the land acquisition. Marlon Matza of Strategic Realty Advisors represented the seller, a partnership between Grossman Nurseries and Breslin Development. A construction timeline was not disclosed.

$112M East Northport assisted living project getting IDA assist, EDC bond financing. Silver Fox of Northport LLC is developing a $112 million assisted living and memory care facility in East Northport to be managed by Sunrise Senior Living. The Suffolk County Industrial Development Agency granted preliminary approval for tax incentives, and the Suffolk County Economic Development Corporation approved bond financing. The blueprint: * Silver Fox of Northport LLC leads $112 million project * Suffolk County IDA gives preliminary approval for 15-year PILOT and sales tax exemption * Project includes 86 assisted living and memory care units * Development to create 450 construction and 54 full-time jobs A $112 million assisted living project in East Northport received preliminary approval Thursday for financial assistance from the Suffolk County Industrial Development Agency, the second time in four years that the project has come before the IDA Silver Fox of Northport LLC, an affiliate of McLean, Va.-based nonprofit Silver Fox Senior Living, will be constructing a two-story, 72,092-square-foot assisted living and memory care facility on a 6.1-acre site at 1381-1387 Pulaski Road. The facility will have 86 units and its day-to-day operations will be managed by Sunrise Senior Living, according to the project's IDA application. The Suffolk IDA voted Thursday to give preliminary approval for a 15-year payment-in-lieu-of-taxes (PILOT) agreement and sales tax exemptions with a combined benefits value of about $2.94 million. The project will also be fully financed with bonds through the Suffolk County Economic Development Corporation, which also approved the bond financing Thursday. This is the second time this project has come before the IDA, which granted economic incentives to Sunrise Senior Living for the development in Nov. 2022. However, because it will now be owned by Silver Fox Senior Living, the cost of the project has doubled since then, and the project's financing has changed, the development needed to come before the IDA for a fresh look. Attorney David Curry of Farrell Fritz represents the Silver Fox project. When he spoke to LIBN earlier this year, Philip Kroskin, head of real estate and senior vice president of investments for Sunrise Senior Living, said the project had been delayed by "significant macroeconomic pressures" that caused a slowdown of development nationwide. The East Northport development will create about 450 construction jobs, and 54 full-time equivalent jobs once completed. Besides the assisted living facility, the project also includes the restoration of an existing farmhouse on the east side of the property, where crews have already started work. Construction of the main facility is expected to begin next month, once all permits have been secured, and is projected to take about 18 months to complete. This will be the first assisted living project that Sunrise is collaborating on with the Silver Fox nonprofit. Silver Fox of Northport LLC will serve as the owner of the Northport facility and once completed, it will be managed by Sunrise, according to its IDA application. Towards the end of 2022, Sunrise also received tax breaks from the Town of Hempstead IDA for a proposed assisted living development on 2.8 acres at 374 Atlantic Ave. in Oceanside. The 77,430-square-foot facility was planned to have 84 units but has not yet been constructed. In February, Kroskin said the company expected to start construction on the Oceanside project "within the next 12 months." Sunrise Senior Living began over 44 years ago with a single community developed in Oakton, Va. in 1981. The company says it now serves about 23,500 residents in more than 240 communities throughout the United States and Canada, including 10 facilities on Long Island. The East Northport facility will be the company's third in the Town of Huntington, joining others in Dix Hills and Huntington Station and the Oceanside facility would be the third Sunrise facility in the Town of Hempstead, along with existing developments in North Lynbrook and East Meadow. About the reporter David Winzelberg covers real estate, development, land use, retailing, franchising and white-collar crime for Long Island Business News. An award-winning journalist who spent 20 years writing about Long Island for The New York Times, David's work has also appeared in The Atlantic magazine, Forbes.com and has been featured on CNBC's "American Greed." A former adjunct professor of journalism and former editor of a weekly community newspaper, David has hosted news programs for WLIW-TV and is a frequent speaker at area business events. His news reporting, features and investigations have been recognized by several organizations, including the New York Press Association, the Press Club of Long Island, and the Fair Media Council, which also honored him with a Lifetime Achievement Award. He can reached via email at [email protected] or at (631) 913-4247.