Sunrise Update and Correction

November 10, 2008

November 10, 2008
The shares of Sunrise Senior Living have taken another hit today, dropping to a new low of $1.26 per share, which may have been influenced by Stifel Nicolaus' change in recommendation from Buy to Hold this morning and a discussion of potential recapitalization strategies. Who would have thought?

We would also like to clarify a statement in last Friday's blog regarding SRZ's subsidiary Greystone. We stated that Sunrise had suspended development projects at the subsidiary when, in fact, Sunrise has suspended provided seed cpaital financing for new developments at Greystone. Greystone is continuing with development projects in place, and whether or not new developments will be started will depend on obtaining the necessary seed capital from sources outside the Sunrise umbrella. We apologize for any misunderstanding.


Post new comment

The content of this field is kept private and will not be shown publicly.