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.
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