Sunwest sells off properties

Sunwest Management will sell up to 148 of its senior-living centers to a private equity firm.

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After going broke last year, troubled Sunwest Management will sell as many as 148 of its senior-living properties to private equity firm Blackstone Group.

The sale must be approved by U.S. District Judge Michael Hogan, who has been presiding over legal proceedings involving Sunwest, its investors and lenders.

Sunwest developed properties valued at as much as $2 billion before it went broke last year and has faced allegations that it misled investors who bought interests in Sunwest-affiliated senior-living homes.

Read the full story at the Statesman Journal.

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