Ventas buys Canadian assets of Fortress-backed Holiday Retirement

U.S.-based real estate investment trust Ventas Inc (NYSE: VTR) has agreed to acquire 29 independent living senior housing communities located in Canada for $980 million in cash. Ventas is buying the assets from Holiday Retirement Corp, a Lake Oswego, Oregon-based owner and operator of retirement living communities and a portfolio company of U.S. private equity firm Fortress Investment Group since 2007. Upon the deal's closing, which is expected in the third quarter, management of the acquired senior housing communities will be transitioned to Ventas' operating partner Atria Senior Living.

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