for the quarter and the year grew largely due to new openings,
stabilization of new properties opened during the prior year,
acquisitions and increases in average daily rate.
-- Sunrise's same-community portfolio included 206 communities in the
fourth quarter 2007, compared to 176 communities in the fourth quarter
of 2006. Sunrise's same-community portfolio consists of communities in
which Sunrise has an ownership interest (i.e., consolidated communities
and venture communities) that were stabilized in both the fourth
quarter of 2007 and 2006 (which Sunrise defines as being open for 12
months or achieving 95 percent occupancy, whichever occurs first). The
increase in number of same communities is partially due to the
stabilization of communities in The Fountains venture portfolio,
consisting of 16 communities that were acquired in the third quarter of
2005. Six of the communities became stabilized earlier in 2007, and
the remaining ten communities became stabilized during the fourth
quarter of 2006. The remaining increase in stabilized communities is
due to new community openings that first stabilized in the fourth
quarter 2006. Of the 206 communities in the same-community portfolio,
145 are venture communities and 61 are consolidated communities.
-- Same-community revenues increased 5.9 percent during the fourth quarter
2007, to $311.5 million as compared to $294.1 million in the prior-year
fourth-quarter. Revenue growth from communities in ventures was 5.1
percent and growth from consolidated communities was 7.6 percent.
Growth in same-community revenues was primarily driven by rate
-- Average daily rate for the same-community portfolio increased 6.5
percent over the prior-year
|SOURCE Sunrise Senior Living, Inc.|
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