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Bill Sheriff

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We are excited about adding these high-quality communities into our portfolio. Commodore 64 er computeren, der lokker til demo-programmering. These communities fit us extremely well. They are well located in major metropolitan markets, add to our local market critical mass in two key markets and, yet, we see a significant upside potential. We are also pleased to partner once again with Merrill Lynch in this transaction. They continue to demonstrate a strong understanding of the senior housing market and we look forward to future transactions with them. The joint venture structure allows us to judiciously use our cash resources and to maximize our shareholders' value by obtaining a strong return through our management fee and minority interest, which includes a provision for enhanced returns based on exceeding certain targets.

The joint venture structure allows us to judiciously use our cash resources and to maximize our shareholders' value by obtaining a strong return through our management fee and minority interest, which includes a provision for enhanced returns based on exceeding certain targets.

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