HCPI Withdraws Offer for Sunrise

Health Care Property Investors, Long Beach, Calif., has withdrawn its offer to acquire Toronto-based Sunrise Senior Living Real Estate Investment Trust, according to Sunrise.The announcement follows a ruling by a Canadian court that Sunrise is "obligated to comply with its covenants" in its purchase agreement with Ventas Inc., a Louisville, Ky.-based assisted-living REIT. This leaves the field clear for the previously announced acquisition of Sunrise by Ventas for $1.8 billion, including the assumption of debt. The companies can be found online at http://www.hcpi.com, http://www.sunriseseniorliving.com, and http://www.ventasreit.com.