Health Care REIT, Inc. completes C$1.35 billion investment with Revera Inc.

Date Closed: 5/28/2013

Value: C$1.35 billion

On May 28, 2013, Health Care REIT, Inc. (HCN) completed a $1.35 billion investment with Revera Inc. (Revera) to own 47 seniors housing communities comprising approximately 5,000 units located in British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. As a result of the transaction, HCN owns a 75 per cent interest in the $1.35 billion portfolio and Revera owns the remaining 25 per cent interest through a joint-venture arrangement. Revera will continue to manage the communities under an incentive-based management contract on behalf of the joint venture.

Borden Ladner Gervais LLP represented HCN with a team comprised of Paul Mingay and Paul Simon (Corporate), Stephen Fyfe, Daniel Lang and Janet Kasun (Tax), Noella Milne, Serge Lakatos and Mike Hrabok (Real Estate), Andrew Harrison (Pensions & Benefits), and Lisa Cabel and James Fu (Labour & Employment).