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      8-K HRT purchase of 12 communities March 2007
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      </div>U.S. SECURITIES AND EXCHANGE COMMISSION</div>
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      D.C. 20549</strong></font></div>
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      8-K</strong></font></div>
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      REPORT</strong></font></div>
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      to Section 13 or 15(d) of</strong></font></div>
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      of
      report (Date of earliest event reported):</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>
      March 7, 2007</strong></font></div>
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      CORPORATION</strong></font></div>
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      Elliott Avenue, Suite 500</font></div>
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      Washington 98121</font></div>
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      298-2909</font></div>
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      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>
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      Written
      communications pursuant to Rule&#160;425 under the Securities Act (17 CFR
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      Soliciting material pursuant to Rule&#160;14a-12 under the Exchange Act (17 CFR
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    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left">&#160;</div>
    <div style="DISPLAY: block; MARGIN-LEFT: 72pt; TEXT-INDENT: -72pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Item&#160;1.01</strong></font><font id="TAB2" style="COLOR: black; LETTER-SPACING: 27pt">&#160;</font><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>Entry
      into a Material Definitive Agreement.</strong></font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
      March
      7, 2007, we entered into an Agreement of Purchase and Sale ("Purchase
      Agreement") with HR Acquisition I Corporation, HR Acquisition of Pennsylvania,
      Inc., HR Acquisition of San Antonio, Ltd, and HRT Holdings, Inc. (each, a
      "Seller" and collectively, the "Sellers") to purchase 12 communities consisting
      of 786 units located in five states for a price of $99.0&#160;million plus
      transaction costs (the "HRT Acquisition"). The Company has leased these
      communities from the Sellers (four communities since May 2002 and eight since
      May 2003) and operated them as assisted living and dementia care facilities.
      The
      Purchase Agreement contains customary conditions to closing. The Company has
      provided a deposit in the approximate amount of $1.3 million which is
      non-refundable.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Capmark
      Finance, Inc. has committed to provide fixed financing of up to $101.6 million
      for the HRT Acquisition, proceeds of which will be used to pay the purchase
      price, closing and financing costs, and to retire the $600,000 term loan, as
      described below.</font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">We
      currently have approximately $11.4 million in loans outstanding from HR
      Acquisition I Corporation and Healthcare Realty Trust, Inc., an affiliate of
      the
      Sellers of these communities. Of the total, $600,000 is an unsecured term loan
      entered into in May 2003 that accrues interest at 10% per annum, is payable
      in
      monthly installments of interest-only, and is due in April 2013. This loan
      will
      be paid off at the closing of the HRT Acquisition. </font></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><br></div>
    <div style="DISPLAY: block; MARGIN-LEFT: 9pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">The
      remaining note of $10.8 million will be acquired by our CEO and chairman of
      the
      board, on similar terms and conditions as the original loan. The $10.8 million
      loan accrues interest at 10% per annum, is payable in monthly installments
      of
      interest-only, and is due in full in June 2008. The Company provided a cash
      security deposit of $1.0 million at the closing of the loan transaction in
      June
      2005. The loan is further secured by the existing leases on the 12 properties
      to
      be purchased by the Company pursuant to the Purchase Agreement. Since the leases
      will be terminated at the closing of this transaction, substitute collateral
      will be provided in the form of a mortgage on these properties. The mortgage
      will be subordinate to the Capmark financing. The $1.0 million cash security
      deposit will also continue to be collateral security for the note. </font></div>
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    <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>
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      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>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">March
                13, 2007</font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><strong>EMERITUS
                CORPORATION</strong></font></div>
            </td>
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              <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align="left"><br>
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                  Raymond R. Brandstrom</font></div>
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[{"type": "8-K", "sequence": "1", "filename": "hrtpurchasemar07.htm", "description": "8-K HRT PURCHASE OF 12 COMMUNITIES MARCH 2007", "secsgml_size_bytes": 27173}]
{"company-data": {"conformed-name": "EMERITUS CORP\\WA\\", "cik": "0001001604", "assigned-sic": "8050", "irs-number": "911605464", "state-of-incorporation": "WA", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-14012", "film-number": "07690452"}, "business-address": {"street1": "3131 ELLIOTT AVENUE", "street2": "SUITE 500", "city": "SEATTLE", "state": "WA", "zip": "98121", "phone": "2062982909"}, "mail-address": {"street1": "3131 ELLIOTT AVE STE 500", "city": "SEATTLE", "state": "WA", "zip": "98121"}}
8-K HRT purchase of 12 communities March 2007
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):
March 7, 2007
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
      March
      7, 2007, we entered into an Agreement of Purchase and Sale ("Purchase
      Agreement") with HR Acquisition I Corporation, HR Acquisition of Pennsylvania,
      Inc., HR Acquisition of San Antonio, Ltd, and HRT Holdings, Inc. (each, a
      "Seller" and collectively, the "Sellers") to purchase 12 communities consisting
      of 786 units located in five states for a price of $99.0 million plus
      transaction costs (the "HRT Acquisition"). The Company has leased these
      communities from the Sellers (four communities since May 2002 and eight since
      May 2003) and operated them as assisted living and dementia care facilities.
      The
      Purchase Agreement contains customary conditions to closing. The Company has
      provided a deposit in the approximate amount of $1.3 million which is
      non-refundable.
Capmark
      Finance, Inc. has committed to provide fixed financing of up to $101.6 million
      for the HRT Acquisition, proceeds of which will be used to pay the purchase
      price, closing and financing costs, and to retire the $600,000 term loan, as
      described below.
We
      currently have approximately $11.4 million in loans outstanding from HR
      Acquisition I Corporation and Healthcare Realty Trust, Inc., an affiliate of
      the
      Sellers of these communities. Of the total, $600,000 is an unsecured term loan
      entered into in May 2003 that accrues interest at 10% per annum, is payable
      in
      monthly installments of interest-only, and is due in April 2013. This loan
      will
      be paid off at the closing of the HRT Acquisition.
The
      remaining note of $10.8 million will be acquired by our CEO and chairman of
      the
      board, on similar terms and conditions as the original loan. The $10.8 million
      loan accrues interest at 10% per annum, is payable in monthly installments
      of
      interest-only, and is due in full in June 2008. The Company provided a cash
      security deposit of $1.0 million at the closing of the loan transaction in
      June
      2005. The loan is further secured by the existing leases on the 12 properties
      to
      be purchased by the Company pursuant to the Purchase Agreement. Since the leases
      will be terminated at the closing of this transaction, substitute collateral
      will be provided in the form of a mortgage on these properties. The mortgage
      will be subordinate to the Capmark financing. The $1.0 million cash security
      deposit will also continue to be collateral security for the note.
[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.
March
                13, 2007
EMERITUS
                CORPORATION
By:
/s/
                  Raymond R. Brandstrom
Raymond
                R. Brandstrom
Vice
                President of Finance, Chief Financial Officer
and
                Secretary