SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549
                                  ____________
                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

       Date of report (Date of earliest event reported):  OCTOBER 1, 2002

                              EMERITUS CORPORATION
               (Exact name of registrant as specified in charter)

        WASHINGTON             1-14012          91-1605464
    (State or other         (Commission       (IRS Employer
     jurisdiction of         File Number)      Identification
     incorporation)                            No.)


                              Raymond R. Brandstrom
        Vice President of Finance, Chief Financial Officer, and Secretary
                              Emeritus Corporation
                         3131 Elliott Avenue, Suite 500
                            Seattle, Washington 98121
               (Address of principal executive offices) (Zip Code)

                                 (206) 298-2909
              (Registrant's telephone number, including area code)


<PAGE>
ITEM  2.     ACQUISITION  OR  DISPOSITION  OF  ASSETS

     On  October  1,  2002,  Emeritus Corporation (the "Company") entered into a
lease  agreement  between  Fretus  Investors LLC ("Fretus"), a limited liability
company  organized  under  the  laws  of  the  State  of  Washington and various
subsidiaries  and affiliates with its principal executive office located at 2025
First  Avenue,  Suite  890,  Seattle,  WA 98121, for twenty-four assisted living
communities  (the  "Properties")  in  six  states  containing  an  aggregate  of
approximately  1,650  units.

     The  Properties,  were  acquired  by  Fretus  from  Marriott  Senior Living
Services,  a  subsidiary  of  Marriott  International  (NYSE: MAR).  Fretus is a
private  investment  joint  venture  between Fremont Realty Capital ("Fremont"),
which  holds  a  65%  stake, and Columbia Pacific 2002 Pool LLC ("Baty entity"),
which  holds  a  35% minority stake.   The Baty entity is owned or controlled by
Daniel  R. Baty, the Company's chairman and chief executive officer.  Fretus, in
turn,  leased  the  Properties  to  the  Company.

  The  lease  is  for  an  initial 10-year period with two 5-year extensions and
includes  an  opportunity  for  the  Company to acquire the Properties after the
third  year  and  the right under certain circumstances for Fretus to cancel the
lease  by payment of a termination fee after the fifth year.  The lease is a net
lease,  with base rental equal to (i) the debt service on the outstanding senior
mortgage  held  by  Fretus, and (ii) an amount necessary to provide a 12% annual
return  on  equity  to  Fretus.  The  initial  senior mortgage debt is for $45.0
million  and  interest is accrued at LIBOR plus 3.5%.  The initial Fretus equity
is  approximately  $26.7  million  but  may  increase  as a result of additional
capital  contributions  for  specified purposes and will decrease as a result of
cash distributions to investors.  Based on the initial senior mortgage terms and
initial Fretus equity, current rental would be approximately $510,000 per month.
In  addition  to  the base rental, the lease also provides for percentage rental
equal to a percentage (ranging from 7% to 8.5%) of gross revenues in excess of a
specified  threshold.

The  Properties  in  this  acquisition  are  all  purpose-built  assisted living
communities  in  which  the Company plans to offer both assisted and memory loss
services.


ITEM  7.     FINANCIAL  STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

     (a)     Financial  Statements  of  business  acquired
The  required financial statements for the acquired business are not included in
this  Report at this time. The Registrant will file such financial statements by
amendment  within  sixty days after the date on which this Report is required to
be  filed.

     (b)     Pro  forma  financial  information
The  required  pro forma financial information is not included in this Report at
this  time.  The  Registrant  will  file such pro forma financial information by
amendment  within  sixty days after the date on which this Report is required to
be  filed.

(c)     Exhibits

10.72.1     Master  Lease  Agreement between various subsidiaries and affiliates
of  Fretus  Investors  L.L.C.  and Emeritus Properties-NGH, L.L.C., and ESC-NGH,
L.P.  dated  October  1,  2002.

99.2.1  Emeritus  Press  release  announcing  the  acquisition of 24 communities
dated  October  1,  2002.

<PAGE>
                                    SIGNATURE
     Pursuant  to  the  requirements  of the Securities Exchange Act of 1934, as
amended,  the  registrant has duly caused this report to be signed on its behalf
by  the  undersigned,  hereunto  duly  authorized.
EMERITUS  CORPORATION

                                                   By: /s/ Raymond R. Brandstrom
                                                    ----------------------------
                                                           Raymond R. Brandstrom
                                                      Vice President of Finance,
                                                        Chief Financial Officer,
                                                                   and Secretary


Dated:  October  15,  2002
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SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549
                                  ____________
                                    FORM 8-K

                                 CURRENT REPORT

                       PURSUANT TO SECTION 13 OR 15(D) OF
                       THE SECURITIES EXCHANGE ACT OF 1934

       Date of report (Date of earliest event reported):  OCTOBER 1, 2002

                              EMERITUS CORPORATION
               (Exact name of registrant as specified in charter)

        WASHINGTON             1-14012          91-1605464
    (State or other         (Commission       (IRS Employer
     jurisdiction of         File Number)      Identification
     incorporation)                            No.)

                              Raymond R. Brandstrom
        Vice President of Finance, Chief Financial Officer, and Secretary
                              Emeritus Corporation
                         3131 Elliott Avenue, Suite 500
                            Seattle, Washington 98121
               (Address of principal executive offices) (Zip Code)

                                 (206) 298-2909
              (Registrant's telephone number, including area code)
ITEM  2.     ACQUISITION  OR  DISPOSITION  OF  ASSETS

     On  October  1,  2002,  Emeritus Corporation (the "Company") entered into a
lease  agreement  between  Fretus  Investors LLC ("Fretus"), a limited liability
company  organized  under  the  laws  of  the  State  of  Washington and various
subsidiaries  and affiliates with its principal executive office located at 2025
First  Avenue,  Suite  890,  Seattle,  WA 98121, for twenty-four assisted living
communities  (the  "Properties")  in  six  states  containing  an  aggregate  of
approximately  1,650  units.

     The  Properties,  were  acquired  by  Fretus  from  Marriott  Senior Living
Services,  a  subsidiary  of  Marriott  International  (NYSE: MAR).  Fretus is a
private  investment  joint  venture  between Fremont Realty Capital ("Fremont"),
which  holds  a  65%  stake, and Columbia Pacific 2002 Pool LLC ("Baty entity"),
which  holds  a  35% minority stake.   The Baty entity is owned or controlled by
Daniel  R. Baty, the Company's chairman and chief executive officer.  Fretus, in
turn,  leased  the  Properties  to  the  Company.

  The  lease  is  for  an  initial 10-year period with two 5-year extensions and
includes  an  opportunity  for  the  Company to acquire the Properties after the
third  year  and  the right under certain circumstances for Fretus to cancel the
lease  by payment of a termination fee after the fifth year.  The lease is a net
lease,  with base rental equal to (i) the debt service on the outstanding senior
mortgage  held  by  Fretus, and (ii) an amount necessary to provide a 12% annual
return  on  equity  to  Fretus.  The  initial  senior mortgage debt is for $45.0
million  and  interest is accrued at LIBOR plus 3.5%.  The initial Fretus equity
is  approximately  $26.7  million  but  may  increase  as a result of additional
capital  contributions  for  specified purposes and will decrease as a result of
cash distributions to investors.  Based on the initial senior mortgage terms and
initial Fretus equity, current rental would be approximately $510,000 per month.
In  addition  to  the base rental, the lease also provides for percentage rental
equal to a percentage (ranging from 7% to 8.5%) of gross revenues in excess of a
specified  threshold.

The  Properties  in  this  acquisition  are  all  purpose-built  assisted living
communities  in  which  the Company plans to offer both assisted and memory loss
services.

ITEM  7.     FINANCIAL  STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS

     (a)     Financial  Statements  of  business  acquired
The  required financial statements for the acquired business are not included in
this  Report at this time. The Registrant will file such financial statements by
amendment  within  sixty days after the date on which this Report is required to
be  filed.

     (b)     Pro  forma  financial  information
The  required  pro forma financial information is not included in this Report at
this  time.  The  Registrant  will  file such pro forma financial information by
amendment  within  sixty days after the date on which this Report is required to
be  filed.

(c)     Exhibits

10.72.1     Master  Lease  Agreement between various subsidiaries and affiliates
of  Fretus  Investors  L.L.C.  and Emeritus Properties-NGH, L.L.C., and ESC-NGH,
L.P.  dated  October  1,  2002.

99.2.1  Emeritus  Press  release  announcing  the  acquisition of 24 communities
dated  October  1,  2002.
SIGNATURE
     Pursuant  to  the  requirements  of the Securities Exchange Act of 1934, as
amended,  the  registrant has duly caused this report to be signed on its behalf
by  the  undersigned,  hereunto  duly  authorized.
EMERITUS  CORPORATION

                                                   By: /s/ Raymond R. Brandstrom
                                                    ----------------------------
                                                           Raymond R. Brandstrom
                                                      Vice President of Finance,
                                                        Chief Financial Officer,
                                                                   and Secretary

Dated:  October  15,  2002