Welltower & Revera Complete Regal Lifestyle Communities Acquisition Through Joint Venture

Welltower Inc. and Revera Inc. announced that they completed the previously announced acquisition of Regal Lifestyle Communities Inc. The Regal portfolio includes 23 high-quality, private-pay seniors housing communities with over 3,600 units (13 communities in Ontario, seven in Quebec, and one each in British Columbia, Saskatchewan and Newfoundland). Welltower and Revera formed a joint venture in May 2013, when Welltower acquired 47 seniors housing communities from Revera for CAD$1.34 billion (CAD$1.0 billion for Welltower’s 75% stake). Since that time, the joint venture has grown significantly, consistent with Welltower and Revera’s strategy . . .