Ventas has signed a definitive agreement to acquire a class A portfolio of 31 purpose-built seniors housing communities and four in-progress developments in the Quebec, Canada, market by investing through an 85/15 percent equity partnership with Le Groupe Maurice (LGM).
The portfolio is valued at C$2.4 billion ($1.8 billion) including construction in progress.
LGM, developer and operator of seniors housing communities in Quebec, will continue to manage and further develop the portfolio under the Le Groupe Maurice brand, maintaining its vision of quality and innovation. Ventas will also have exclusive rights to fund and own all additional developments under a pipeline agreement with LGM.
LGM has more than 2,000 employees, a seasoned, high-quality management tea
