Stephen Pincus quoted in "Prime Time for Real Property”, Lexpert Magazine
|Area||Commercial Real Estate, REITs and Income Securities, Health Care Law|
Excerpt from "Prime Time for Real Property”, by Julius Melnitzer:
“I see this as being the future in the real estate area,” says Pincus. He says Goodmans is currently working on several files where a US portfolio of assets will IPO on the TSX. Pincus closed a transaction last summer with HealthLease Properties, a cross-border REIT that will IPO on the TSX in the hope of raising $140 million to buy two portfolios of seniors housing – one in Canada, the other in the US. It’s a first in several ways, Pincus suggests: “It’s the first time that a REIT in seniors housing has been structured so it does not have any operations in it. We have a pure-play real estate seniors REIT which is basically developing and owning buildings for leasing for use as seniors residences or retirement homes."