Welltower and Revera Complete Acquisition of Regal Lifestyle Communities Through Joint Venture
Goodmans represented the Welltower Inc. and Revera Inc. acquisition and joint venture entities in their acquisition of Regal Lifestyle Communities Inc. The acquisition was completed through an existing 75/25 joint venture and was effected by way of a statutory plan of arrangement pursuant to which holders of Regal common shares received $12.00 in cash per share. Regal had a total enterprise value of approximately C$764 million.
The Regal portfolio included 23 high-quality, private pay-seniors housing communities with over 3,600 units located in Ontario, Quebec and British Columbia.