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Age Care sells Senior Care Facilities to Northern Property Real Estate Investment Trust

Date Closed

April 21, 2006

Lead Office



149.20 Million CAD

On April 21, 2006, Age Care Investments Ltd., a private long-term care provider, sold the buildings and lands associated with five senior long-term care facilities in Alberta and a sixth in British Columbia for C$142.9 million to Northern Property Real Estate Investment Trust.  The properties, which include a total of 960 beds, will be leased back to Age Care pursuant to long-term leases. Age Care will continue to provide all care services to the residents and will operate and maintain the buildings.

McCarthy Tétrault LLP represented Age Care Investments, with a team led by Stephen Livergant.