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TOLEDO, OH-Health Care REIT Inc. said Wednesday it will pay about $1 billion, including the assumption of $314 million in debt, to take a 75% stake in a portfolio of 47 senior housing communities across Canada. Current owner Revera Inc. will continue to manage the $1.35-billion portfolio after the transaction closes.

The Revera portfolio, which will add 5,041 units to HCN’s existing holdings in Canada, is located mainly in infill locations within Canada’s major metropolitan areas, including Toronto, Vancouver, and Calgary. Nearly two-thirds of the portfolio is located in the country’s five largest metro areas, according to a release. Twenty-five of the 47 communities are in Ontario province.

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