On September 4, 2019, Ventas, Inc. completed its acquisition of a Class A portfolio of 31 purpose-built seniors housing communities and certain in-progress developments in Québec by investing through an 85/15 percent equity partnership with Le Groupe Maurice (“LGM”). The portfolio is valued at C$2.4 billion including construction in progress. The deal establishes a new platform for growth with LGM, who will continue to manage and further develop the portfolio under the Le Groupe Maurice brand. Ventas will also have exclusive rights to fund and own all additional developments under a pipeline agreement with LGM. The investment will diversify and expand Ventas’s leading seniors housing operating portfolio (“SHOP”) presence in Canada with a preferred seniors housing brand in Quebec.
Founded in 1998, LGM is a market leader in the design, development and management of progressive residences for seniors in Quebec.
Ventas, an S&P 500 company, is a leading real estate investment trust. Its diverse portfolio of approximately 1,200 assets in the United States, Canada and the United Kingdom consists of seniors housing communities, medical office buildings, university-based research and innovation centers, inpatient rehabilitation and long-term acute care facilities, and health systems.
Osler, Hoskin & Harcourt LLP advised Ventas with a team led by Victoria Graham and Sébastien Savage that consists of Amelia Miao, Matthew Oliver and Calvin Leung Lung Yuen (Corporate), Jack Silverson and Antoine Stébenne (Tax), Michelle Lally and Jaime Auron (Competition), Etienne Massicotte and Mikulas Arendas (Banking and Financial Services), Adam Kardash and Kristin Ali (Privacy), Michael Watts and Aidan McNeil (Regulatory), Patrick Welsh and Julien Hynes-Gagné (Environmental), Julien Ranger-Musiol (Pensions and Benefits), Nicole Cloutier and Caroline Stephens (Real Estate), Richard Wong (Construction) and Kelly Moffatt (Intellectual Property).