Owners of Regency Retirement Resorts complete portfolio sale of independent-living retirement residences in Okanagan
January 11, 2022
On January 11, 2022, the owners of Regency Retirement Resorts completed the sale of their portfolio of nine independent-living retirement residences located in the Okanagan region of British Columbia, Canada. The transaction was initiated by a robust auction process and culminated in an asset sale to an affiliate of NYSE-listed Welltower Inc. for approximately C$600 million.
Regency Retirement Resorts is a portfolio of active lifestyle retirement homes in the Okanagan region of British Columbia.
Welltower Inc. is a U.S.-based real estate investment trust that invests in seniors housing and other healthcare infrastructure.
McCarthy Tétrault LLP advised the owners of Regency Retirement Resorts with a team led by Sven Milelli that included Gerald Gaunt, Prateek Gupta, Jordan Chu and Rachael Carlson (Business); Craig Shirreff and John Currie (Real Estate); Kate McNeece and Erin Keogh (Competition); Donovan Plomp, Lauren Soubolsky and Abby Nann (Labour and Employment); Vincent Yip (Intellectual Property); Brett Anderson, Matt Kraemer, Randy Schwartz and Kassandra Grenier (Tax); Selina Lee-Andersen (Environmental); Jade Buchanan (Privacy); Deron Waldock (Pensions/Benefits).