Eversheds, Freshfields win care home deal

Eversheds and Freshfields Bruckhaus Deringer have acted on one of the largest deals in the care home sector.

The former advised Sunrise Senior Living on the $1.1bn (£546.63m) sale of 15 senior living communities across the UK and on the establishment of a joint venture with Morgan Stanley Real Estate.

The latter was advised by Freshfields. The 15 communities were developed or are under development by Sunrise in partnership with institutional investors advised by Pramerica Real Estate Investors. Eversheds also advised Pramerica.

The real estate, corporate and construction teams at Eversheds worked together to coordinate the main sale agreement and the joint venture and management agreements.

Real estate partner William Naunton and corporate partner Neil Matthews led the team advising on the deal.