Publications

Transactions - JUNE 18, 2015

To read this full article you need to be subscribed to Newsline.

Sign in Start Your Free Trial Now View Purchase Options

REITs make portfolio buys worth $1.1b

by Andrea Waitrovich

Three property portfolios have been acquired by three different REITs for a total of $1.09 billion in sales prices. REITs have been active buyers; earlier this week, REITs purchased $1.7 billion in self-storage and hotel properties.

The largest acquisition was made by Health Care REIT and joint venture partner Revera, which agreed to acquire Regal Lifestyle Communities through an existing 75-25 joint venture for C$12 per share in cash, or a total enterprise value of approximately C$766 million ($623 million).

Regal is a publicly traded Canadian corporation that owns and operates 23 high-quality senior housing communities with over 3,600 units. This private-pay portfolio includes 13 communities in Ontario, seven in Quebec, and one each in British Columbia, Saskatchewan and Newfoundland.

HCN and Revera formed a joint venture in

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

Close your account?

Your account will be closed and all data will be permanently deleted and cannot be recovered. Are you sure?

We respect your privacy! Please give consent for processing data as described in our Privacy Policy