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Under the agreement, an affiliate of PPPE would own 80 percent of the joint venture, with the remaining 20 percent owned by Sunrise Assisted Living. Prudential's PPPE and the existing managers and owners have finalized terms for the provision of new equity and shareholder loans in BPG to facilitate the rapid growth and expansion of BAUWERT's current business plan. PPPE is part of Prudential Real Estate Investors (PREI), Prudential's global real estate money management firm that offers clients investment opportunities in Europe, Asia and the United States. |
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