US-Based Sabra Health Care Moves Into Canada
In a deal worth $170.5M, Maryland-based Sabra Health Care REIT has acquired a nine-property senior housing portfolio in B.C. and Ontario. It's Sabra’s first investment in Canada. The portfolio includes eight independent senior living facilities and one assisted living facility, with 302 units in B.C. and 563 units in Ontario. The transaction comes with the option to purchase two additional facilities in Ontario. (A US Sabra property is seen above). The acquisitions give the firm a Canadian foothold, CEO Rick Matros said, noting the opportunity for continued private pay senior housing growth in Canada through smaller deals.