Long Beach REIT Challenges Sale

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Health Care Property Investors Inc. expects to learn on Tuesday whether it will be allowed to enter a bid for Sunrise Senior Living Real Estate Investment Trust.


Sunrise Senior Living, an Ontario, Canada-based real estate investment trust, said Friday that it expects to receive a decision regarding the Long Beach REIT’s challenge of a $1.1 billion bid by Louisville-based Ventas Inc.


Sunrise had agreed in January to be acquired by Ventas for $1.8 billion, but the Long Beach REIT sued in an Ontario court to stop the deal saying it not been given a fair chance to bid for Sunrise.


Shares in Health Care Property Investors were up 7 cents to $36.64 in afternoon trading Friday on the New York Stock Exchange.

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