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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Chartwell and Health Care REIT Acquire Maestro Portfolio

2012

Areas Commercial Real Estate, Competition, Antitrust and Foreign Investment, Health Care Law, REITs and Income Securities, Tax

Summary

Goodmans represented Health Care REIT, Inc. in connection with Chartwell Seniors Housing REIT and Health Care REIT, Inc.’s acquisition from certain Maestro Retirement Residences Funds of a portfolio of 8187 suites in 42 retirement residences in Canada for a purchase price of approximately $931 million. The properties are located in Quebec, Ontario, Alberta and British Columbia. The transaction received the approvals of both the Competition Bureau and Investment Canada.

Chartwell and HCN formed a co-ownership, each acquiring a 50% undivided interest in 39 of the retirement communities for a purchase price of approximately $850 million. HCN also acquired a 100% interest in three of the retirement communities for a purchase price of approximately $81 million.