Bdt & Msd To Acquire Sunrise Senior Living For $1b

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 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.”

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