Ventas Completes Investment In Quebec Portfolio With LGM
Zacks Investment Research | Sep 04, 2019 10:04PM ET
Ventas, Inc. (NYSE:VTR) recently completed its investment in a portfolio of Class-A apartment-like senior housing assets in the thriving Quebec senior-housing market through an equity partnership with Le Groupe Maurice (“LGM”). LGM will continue to manage the portfolio under its brand. The transaction will help strengthen Ventas’ foothold in Canada.
The portfolio is valued at $1.8 billion and consists of a highly-occupied stabilized portfolio, communities in lease-up as well as assets under development. Specifically, Ventas has acquired 87% of 34 communities rather than acquiring 85% of 35 communities, as previously announced this June, due to tax and legal structuring considerations. (Read more: Zacks Investment Research
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