Health Care REIT buys stake in Canada market

5/29/2013

Health Care REIT Inc. announced Tuesday that it had completed its acquisition of a 75 percent stake in 47 senior housing and care communities in major Canadian markets. Revera Inc. retains a 25 percent stake and will manage the communities.

The transaction was first presented on May 8.

Health Care REIT's share of the purchase price is $1.01 billion.