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        SECURITIES AND EXCHANGE COMMISSION</font></div>
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        8-K</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">CURRENT
        REPORT</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Pursuant
        to Section 13 or 15(d) of</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">the
        Securities Exchange Act of 1934</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Date
        of report (Date of earliest event
        reported):</font><font style="DISPLAY: inline; FONT-WEIGHT: bold">&#160;&#160;February 6, 2008</font></font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center">[<img src="logo.jpg" alt="logo"></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">EMERITUS
        CORPORATION</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Exact
        name of registrant as specified in charter)</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Washington</font></div>
              </td>
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                <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">1-14012</font></div>
              </td>
              <td valign="top" width="32%">
                <div style="DISPLAY: block; TEXT-INDENT: 0pt">
                </div>
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">91-1605464</font></div>
              </td>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(State
                  or other jurisdiction of incorporation)</font></div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Commission
                  File Number)</font></div>
              </td>
              <td valign="top" width="32%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(IRS
                  Employer Identification No.)</font></div>
              </td>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">3131
        Elliott Avenue, Suite 500</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">Seattle,
        Washington 98121</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Address
        of principal executive offices) (Zip Code)</font></div>
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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman">(206)
        298-2909</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 36pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Registrant's
        telephone number, including area code)</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:</font></div>

      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">o</font>
        Written communications pursuant to Rule&#160;425 under the Securities Act (17
        CFR 230.425)</font></div>

      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">o</font>
        Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR
        240.14a-12)</font></div>

      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt;" face="Wingdings">o</font>
        Pre-commencement communications pursuant to Rule&#160;14d-2(b) under the
        Exchange Act (17 CFR 240.14d-2(b))</font></div>

      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline;" face="Wingdings">o</font><font style="DISPLAY: inline; FONT-SIZE: 10pt">Pre-commencement
        communications
        pursuant to Rule&#160;13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))</font></font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item&#160;1.01</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Entry
                  into a Material Definitive Agreement.
</font></div>
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      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
        February 6, 2008, Emeritus Corporation (the &#8220;Company&#8221;) entered into a Purchase
        and Sale Agreement (the &#8220;Purchase Agreement&#8221;) with Nationwide Health Properties,
        Inc. (&#8220;NHP&#8221;) and its affiliated signatories to purchase 24 communities
        consisting of 1,672 units located in 13 states for a purchase price of $305.0
        million, excluding transaction costs.&#160;&#160;The Company has leased these
        communities from NHP (sixteen of the communities under a master lease since
        April 2004, and the remaining communities under various leases since 2004
        through 2007) and operated the communities as assisted living and dementia
        care
        facilities.&#160;&#160;The Company has made a deposit of $3.1
        million.&#160;&#160;<font style="DISPLAY: inline; COLOR: #000000">The deposit is
        refundable to the Company if we elect to terminate the agreement during the
        30-day due diligence period or the 45-day title due diligence
        period.&#160;&#160;The properties are subject to approximately $56.2 million of
        mortgage debt which will be repaid at closing or assumed by the Company and
        deducted from the purchase price. The Company expects to finance this
        transaction through mortgage debt of approximately $250.0 million (assuming
        the
        $56.2 million will be repaid by NHP at closing), a $30.0 million loan provided
        by </font>NHP at the closing and the balance from available cash on
        hand.&#160;&#160;The NHP loan will bear interest at an annual rate of 7.25% and
        be payable monthly on an interest only basis for a term of not more than
        four
        years.&#160;&#160;The Company has the option to prepay the loan at any
        time.&#160;&#160;&#160;The Company&#8217;s and NHP&#8217;s respective obligations to
        consummate the transactions contemplated by the Purchase Agreement are subject
        to customary closing conditions.&#160;&#160;The Company will incur a one-time
        charge of approximately $3.6 million related to this transaction<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>and expects to close
        the
        transaction by the end of the second quarter of 2008.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Annual
        lease payments are approximately $18.3 million related to these 24 communities,
        including a newly constructed community opened in January 2008.&#160;&#160;The
        Company accounts for these leases as capital leases and recorded interest
        expense of approximately $10.1 million for the year ended December 31,
        2007.&#160;&#160;Upon termination of the capital leases, the difference between
        the carrying amount of the capital lease assets and the capital lease
        obligations will be recorded as an adjustment to the carrying amount of the
        purchased communities.&#160;&#160;This reduction in the cost basis of the
        purchased assets is estimated to be approximately $19.6 million as of the
        closing date.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A
        press
        release announcing the Purchase Agreement is attached hereto as Exhibit
        99.1.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Item
        9.01&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
Financial Statement <font style="DISPLAY: inline; FONT-FAMILY: Times New Roman">and</font>
        Exhibits.</font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
        <font style="DISPLAY: inline; FONT-WEIGHT: bold">Exhibits</font></font></div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">Exhibit
        No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
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                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">10.70.01</font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purchase
                  and Sale Agreement dated February 6, 2008 by and among Nationwide
                  Health
                  Properties, Inc. (&#8220;NHP&#8221;) and its affiliated signatories and Emeritus
                  Corporation </font></div>
              </td>
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              <td style="WIDTH: 108pt">
                <div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;&#160;&#160;&#160;&#160;&#160;99.1</font></font></div>
              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Press
                  Release dated February 7,
                  2008, EMERITUS TO PURCHASE 23 COMMUNITIES.</font></font></div>
              </td>
            </tr>

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      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">SIGNATURE</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
      <div style="DISPLAY: block; TEXT-INDENT: 0pt"><br></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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.</font></div>
      <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">February
                  11, 2008</font></div>
              </td>
              <td valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td valign="bottom" width="39%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">EMERITUS
                  CORPORATION</font></div>
              </td>
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              <td valign="bottom" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td valign="bottom" width="17%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td valign="bottom" width="39%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
            </tr>
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              <td valign="bottom" width="38%"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&#160;</font></td>
              <td align="right" valign="bottom" width="17%">
                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="right"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">By:</font></div>
              </td>
              <td align="left" valign="bottom" width="39%" style="BORDER-BOTTOM: black 2px solid">

                <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">/s/
                  Raymond R. Brandstrom</font></div>
              </td>
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                  R. Brandstrom</font></div>
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                  Vice President-Finance, Chief&#160;&#160;Financial Officer and
                  Secretary</font></div>
              </td>
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        TO EXHIBITS</font></div>
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        No.</font>&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;
<font style="DISPLAY: inline; TEXT-DECORATION: underline">Description</font></font></div>
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              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Purchase
                  and Sale Agreement dated February 6, 2008 by and among Nationwide
                  Health
                  Properties, Inc. (&#8220;NHP&#8221;) and its affiliated signatories and Emeritus
                  Corporation </font></div>
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              </td>
              <td>
                <div align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; FONT-SIZE: 10pt">Press
                  Release dated February 7,
                  2008, EMERITUS TO PURCHASE 23 COMMUNITIES.</font></font></div>
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nhppurchase24communtiesfeb08.htm
U.S.
        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):
February 6, 2008
[
EMERITUS
        CORPORATION
(Exact
        name of registrant as specified in charter)
Washington
1-14012
91-1605464
(State
                  or other jurisdiction of incorporation)
(Commission
                  File Number)
(IRS
                  Employer Identification No.)
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)
Check
        the
        appropriate box below if the Form 8-K filing is intended to simultaneously
        satisfy the filing obligation of the registrant under any of the following
        provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17
        CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
        240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the
        Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement
        communications
        pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
        240.13e-4(c))
Item 1.01
Entry
                  into a Material Definitive Agreement.
On
        February 6, 2008, Emeritus Corporation (the "Company") entered into a Purchase
        and Sale Agreement (the "Purchase Agreement") with Nationwide Health Properties,
        Inc. ("NHP") and its affiliated signatories to purchase 24 communities
        consisting of 1,672 units located in 13 states for a purchase price of $305.0
        million, excluding transaction costs.  The Company has leased these
        communities from NHP (sixteen of the communities under a master lease since
        April 2004, and the remaining communities under various leases since 2004
        through 2007) and operated the communities as assisted living and dementia
        care
        facilities.  The Company has made a deposit of $3.1
        million.
The deposit is
        refundable to the Company if we elect to terminate the agreement during the
        30-day due diligence period or the 45-day title due diligence
        period.  The properties are subject to approximately $56.2 million of
        mortgage debt which will be repaid at closing or assumed by the Company and
        deducted from the purchase price. The Company expects to finance this
        transaction through mortgage debt of approximately $250.0 million (assuming
        the
        $56.2 million will be repaid by NHP at closing), a $30.0 million loan provided
        by
NHP at the closing and the balance from available cash on
        hand.  The NHP loan will bear interest at an annual rate of 7.25% and
        be payable monthly on an interest only basis for a term of not more than
        four
        years.  The Company has the option to prepay the loan at any
        time.   The Company's and NHP's respective obligations to
        consummate the transactions contemplated by the Purchase Agreement are subject
        to customary closing conditions.  The Company will incur a one-time
        charge of approximately $3.6 million related to this transaction
and expects to close
        the
        transaction by the end of the second quarter of 2008.
Annual
        lease payments are approximately $18.3 million related to these 24 communities,
        including a newly constructed community opened in January 2008.  The
        Company accounts for these leases as capital leases and recorded interest
        expense of approximately $10.1 million for the year ended December 31,
        2007.  Upon termination of the capital leases, the difference between
        the carrying amount of the capital lease assets and the capital lease
        obligations will be recorded as an adjustment to the carrying amount of the
        purchased communities.  This reduction in the cost basis of the
        purchased assets is estimated to be approximately $19.6 million as of the
        closing date.
A
        press
        release announcing the Purchase Agreement is attached hereto as Exhibit
        99.1.
Item
        9.01                      
Financial Statement
and
Exhibits.
(d)
Exhibits
Exhibit
        No.
Description
10.70.01
Purchase
                  and Sale Agreement dated February 6, 2008 by and among Nationwide
                  Health
                  Properties, Inc. ("NHP") and its affiliated signatories and Emeritus
                  Corporation
99.1
Press
                  Release dated February 7,
                  2008, EMERITUS TO PURCHASE 23 COMMUNITIES.
[The
        rest
        of this page is intentionally left blank]
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.
February
                  11, 2008
EMERITUS
                  CORPORATION
By:
/s/
                  Raymond R. Brandstrom
Raymond
                  R. Brandstrom
Executive
                  Vice President-Finance, Chief  Financial Officer and
                  Secretary
INDEX
        TO EXHIBITS
Exhibit
        No.
Description
10.70.01
Purchase
                  and Sale Agreement dated February 6, 2008 by and among Nationwide
                  Health
                  Properties, Inc. ("NHP") and its affiliated signatories and Emeritus
                  Corporation
99.1
Press
                  Release dated February 7,
                  2008, EMERITUS TO PURCHASE 23 COMMUNITIES.