Exhibit 99.1

     American Retirement Corporation to Acquire Florida Community

    NASHVILLE, Tenn.--(BUSINESS WIRE)--March 21, 2006--American
Retirement Corporation (NYSE: ACR) ("ARC" or the "Company"), a leading
national provider of senior living housing and care, today announced
that it has entered into a definitive asset purchase agreement with an
affiliate of Westport Senior Living to acquire Freedom Village of
Bradenton, a continuing care retirement community located in
Bradenton, Florida. The community consists of 500 independent living
retirement apartments, a 120 bed skilled nursing facility and a 140
bed assisted living facility.
    The aggregate purchase price for the community is $95 million plus
the assumption of certain resident refund liabilities that are
generally paid out of the resale of the entry-fee units. The purchase
price is subject to customary closing adjustments. The community had
approximately $30 million of revenue in 2005 and ended the year at 90%
occupancy.
    "This community will be a great addition to the seven other
communities that we operate in the Bradenton/Tampa area," said Bill
Sheriff, Chairman, President and CEO of the Company. "We will have
over 2,700 units in a very attractive seniors market, which continues
to build our local market critical mass that provides an enhanced
platform for our ancillary services strategy. Through the joint
venture structure, we anticipate a strong return through our
management fee, health center lease and minority interest in the
community. We are pleased to partner again with Prudential Real Estate
Investors and GMAC on another transaction that will bring value to our
shareholders."
    The Company will consummate the acquisition through a joint
venture, which will be owned 20% by the Company and 80% by investors
in a senior housing strategy managed by Prudential Real Estate
Investors, the real estate investment management business of
Prudential Financial, Inc. (NYSE:PRU). The Company has obtained a firm
commitment from GMAC Commercial Mortgage Bank, to provide the joint
venture with approximately $62 million of senior debt financing. ARC
will manage the independent living component of the community pursuant
to a long-term management agreement and will lease the health center
(assisted living and skilled nursing components) from the joint
venture.
    The consummation of the transaction is subject to receipt of
required regulatory approvals and satisfaction of certain closing
conditions and contingencies, including satisfactory completion of due
diligence. The transaction is expected to close no later than May 31,
2006. The Company will file a Form 8-K with the SEC which provides
further information concerning the transaction.

    Company Profile

    American Retirement Corporation is a national senior living and
health care services provider offering a broad range of care and
services to seniors, including independent living, assisted living,
skilled nursing and Alzheimer's care. Established in 1978, the Company
believes that it is a leader in the operation and management of senior
living communities, including independent living communities,
continuing care retirement communities, free-standing assisted living
communities, and the development of specialized care programs for
residents with Alzheimer's and other forms of dementia. The Company's
operating philosophy is to enhance the lives of seniors by striving to
provide the highest quality of care and services in well-operated
communities designed to improve and protect the quality of life,
independence, personal freedom, privacy, spirit, and dignity of its
residents The Company currently operates 80 senior living communities
in 19 states, with an aggregate unit capacity of approximately 15,200
units and resident capacity of approximately 16,900. The Company owns
31 communities (including 13 communities in joint ventures), leases 43
communities, and manages 6 communities pursuant to management
agreements.

    Safe Harbor Statement

    Statements contained in this press release and statements made by
or on behalf of ARC relating hereto may be deemed to constitute
forward-looking information made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements include all statements that are not
historical statements of fact and those regarding the intent, belief
or expectations of the Company or its management, including, without
limitation, all statements regarding the Company's expectations
concerning the formation of the joint venture, the consummation of the
acquisition and the related financing and the future financial
performance of the community and its effect on the Company's financial
performance. These forward-looking statements may be affected by
certain risks and uncertainties, including without limitation the
following: (i) the Company's ability to satisfy all of the closing
conditions and contingencies necessary to consummate the acquisition
and obtain the GMAC financing, (ii) the Company's ability to integrate
the community into the Company's operations, (iii) the risk that the
Company will be unable to improve its results of operations, increase
cash flow and reduce expenses, (iv) the Company's ability to resell
units at the community, (v) the risks associated with adverse market
conditions of the senior housing industry and the United States
economy in general, (vi) the risk associated with the Company's debt
and lease obligations, and (vi) the risk factors described in the
Company's Annual Report on Form 10-K for the year ended December 31,
2005 under the caption "Risk Factors" and in the Company's other
filings with the SEC. In light of the significant uncertainties
inherent in the forward-looking statements included herein, the
Company's actual results could differ materially from such
forward-looking statements. The Company does not undertake any
obligation to publicly release any revisions to any forward-looking
statements contained herein to reflect events and circumstances
occurring after the date hereof or to reflect the occurrence of
unanticipated events.



    CONTACT: American Retirement Corporation
             Ross C. Roadman, 615-376-2412