UPDATE 1-Sunrise shares sink amid loss, talks with lenders

* Sunrise shares fall 29 percent

* Company posts third-quarter loss, sees costs rising

* Sunrise in refinancing talks with lenders

By Emily Chasan

NEW YORK, Nov 9 (Reuters) - Shares of Sunrise Senior Living Inc (SRZ.N) tumbled after the operator of managed-care facilities reported a third-quarter loss and said it was in restructuring talks with lenders.

Its shares were down 29 percent in late afternoon trade on the New York Stock Exchange, making them the NYSE's top percentage loser.

Sunrise, which said earlier this year that it might have to reorganize under bankruptcy protection if it could not reach agreements with lenders to restructure debt, said it was working to extend debt maturity dates, refinance debt and get waivers from lenders.

The company is also in talks with possible venture partners or third parties to sell assets to boost its liquidity, it said.

As of Sept. 30, the company had $624.6 million of debt outstanding, of which $411.9 million was in default and another $192.8 million was due within one year, company executives said in a conference call on Monday.