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BDT & MSD buys majority stake in Sunrise Senior Living in $1B deal

The seller, Canada’s Public Sector Pension Investment Board, will exit Sunrise, while existing Sunrise management is expected to remain after the deal closes next year.

Reported · Written up by our desk · Industry

BDT & MSD Partners, an investment firm connected to tech mogul Michael Dell, is taking over a majority stake in Sunrise Senior Living, marking its first move into senior housing, according to Bisnow.

Sunrise is the fifth-largest player in the sector with more than 230 communities across the U.S. and Canada, and it serves more than 22,000 residents, the outlet reported.

Bisnow said the seller is Canada’s Public Sector Pension Investment Board and that financial terms were not disclosed, but a Wall Street Journal source valued the deal at more than $1B.

The firm also manages about $20B in assets and is expected to keep existing Sunrise management in place, with Bisnow adding that the transaction is set to close sometime next year.

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