Age Care sells Senior Care Facilities to Northern Property Real Estate Investment Trust
April 21, 2006
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.