MONTREAL – Two Quebec-based retirement home operators are forming a property partnership covering about 5,200 units and accommodating more than 6,000 residents across the province.
The partnership will cover 20 retirement homes – 12 owned and managed by Reseau Selection, seven from Revera, as well as a 20th that was acquired jointly last April.
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Details of the partnership agreement weren’t disclosed but Reseau Selection and Revera said the properties have a combined value of more than $750 million.
Reseau Selection and Revera said they’ll look for opportunities to expand their presence in Quebec through construction and acquisition.
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