Welltower Buys Amica From Ontario Pension for $3.2 Billion

Welltower will buy the Amica Senior Lifestyles portfolio from Ontario Teachers’ Pension Plan for an aggregate consideration of C$4.6 billion ($3.2 billion), the company said in a statement.

The portfolio includes 38 ultra-luxury senior housing communities and nine development parcels in affluent areas of Toronto, Vancouver and Victoria.

Amica will continue to manage the properties as part of its new long-term partnership with Welltower, and Welltower will own a minority interest in Amica’s management company.

At closing, which is expected in the fourth fiscal quarter, Welltower will assume C$560 million of insured debt with an average interest rate of ...