X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

VANCOUVER, BC-Omni Healthcare, which operates 16 properties in Ontario, has been acquired by Abacus Private Equity (formerly Abacus Capital Corporation) in a transaction valued at $100 million. The purchase marks Omni’s entrance into the seniors housing arena, for which it has formed Abacus Seniors Living.

The 16-property portfolio, which can accommodate 1,300 residents, is 97% occupied. Omni’s existing management team will be retained and will continue to oversee operations from its head office in Peterborough, Ontario.

The properties are located in the Ontario cities of Kanata, Peterborough, Picton, Almonte, Aurora, Brighton, Campbellford, Cobourg, Jasper, Lindsay, Long Sault, Norwood and Selby.

The Omni Healthcare sale is one of many senior living transactions in the works or recently completed. Sunrise Senior Living of Toronto, owner of 74 properties, is currently being courted by both Ventas Inc. and Health Care Property Investors. Including debt, either deal would top $2 billion. Last year, HCPI acquired CNL Retirement Properties for $5.3 billion, the largest healthcare REIT transaction in history.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.