Axium Infrastructure buys Canadian eight-property senior housing portfolio for $220m

The Western Canadian Continuum of Care Portfolio, an eight-property, 1,092-suite senior housing portfolio in western Canada, sold for more than C$300 million ($220 million).

The portfolio traded from H&H Total Care Services Inc. — a family-owned business — to a joint venture partnership between Axium Infrastructure, an independent portfolio management firm with offices in Canada, the United States and the United Kingdom, and Optima Living, a western Canada–focused owner/operator.

The portfolio features a balanced mix of assisted living and independent living suites, funded long-term care and complex care beds, and private-pay complex care beds. The portfolio is relatively new, with an average building age of 10 years and three residences opened since 2019. In addition, three of the assets provide the new ownership with more than 360 units of development/expansion opportunities. The properties are each positioned well within their respective markets and spread