Axium Infrastructure Enters into Joint Venture Agreement with Revera Inc. to Share Ownership of 32 of Revera's Long Term Care Homes
|Areas||Banking and Finance Law, Commercial Real Estate, Corporate and Commercial, Health Care Law, Pensions, Private Equity, Tax|
Goodmans represents Revera Inc. in its joint venture partnership with Axium Infrastructure to share ownership of 32 of Revera’s long term care homes in Ontario, Alberta, Manitoba and British Columbia. Upon closing of the transaction, Axium will own a 75% equity interest in the joint venture, while Revera will retain a 25% equity interest and continue to operate the homes. Additional homes may be added to the partnership over time. This transaction is subject to regulatory and lender approvals.
Revera is a leading owner, operator and investor in the senior living sector committed to helping older adults live life to the fullest. Through its portfolio of partnerships, Revera owns or operates more than 500 properties across Canada, the United States and the United Kingdom, offering seniors’ apartments, independent living, assisted living, memory care and long term care.
Axium Infrastructure Inc. is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium manages dedicated infrastructure funds having approximately C$2.8 billion in assets under management as of September 30, 2017, as well as more than C$1 billion in co-investments.