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Canada’s HealthLease Properties REIT being bought by a U.S. REIT


HealthLease Properties REIT announced that it has entered into an arrangement agreement with Health Care REIT, Inc. to be bought for CDN$14.20 per unit in cash, representing an aggregate transaction value of approximately CDN$1 billion (USD$950 million). According to the Globe and Mail, this transaction “is the latest in a series of deals as health care real estate companies look to take advantage of rising demand for senior care facilities in a consolidating sector.”

HealthLease’s board of trustees unanimously recommends that HealthLease unitholders vote in favour of the transaction. Neil Labatte, Chair of HealthLease’s Investment Committee of independent trustees, commented that “the transaction offers HealthLease unitholders a significant premium. This can largely be attributed to the high quality portfolio of seniors housing and post-acute healthcare properties leased to a diversified mix of quality operating tenants that HealthLease has assembled since completing its initial public offering in June 2012.” 




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