Ventas closes buy of Canadian assets of Fortress-owned Holiday Retirement
Ventas Inc (NYSE: VTR) has completed its all-cash acquisition of 29 Canadian independent senior living communities from Holiday Retirement Corp. The previously announced transaction was valued at $930 million. The properties, which are located in Ontario, Alberta and five other provinces, will be managed by Atria Senior Living Inc. Based in Lake Oswego, Oregon, Holiday Retirement is the owner and operator of retirement living communities in North America. The company has been a portfolio investment of U.S. private equity firm Fortress Investment Group since its acquisition for US$6.9 billion in February 2007.
20 August 2014•8 mins read
