Date Closed

April 21, 2006

Lead Office

Calgary

Value

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.