Health Care REIT Drops $1B On Canadian Senior Home JV

Law360, New York (May 8, 2013, 2:25 PM EDT) -- Health Care REIT Inc. has agreed to take over a majority interest in a Canadian senior housing community joint venture with Revera Inc. for roughly $1 billion in cash and assumed debt, the Ohio-based health care facility owner said Wednesday.

The REIT will own 75 percent of the joint venture portfolio, which comprises 47 senior living facilities valued at roughly $1.35 billion. Revera, Canada's second-largest operator of senior housing and long-term care properties, will retain a 25 percent stake in the venture. Health Care REIT said...
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