Client Work

Extendicare Announces Agreement to Sell Esprit Retirement Communities for $307.5 Million

February 10, 2022
Authors
Zirjan (Zee) J. DerwaPartner
Thomas A. BauerPartner
Sarah E. GilbertPartner
Adam KalbfleischPartner
Susan G. SellerPartner

Bennett Jones is advising Extendicare Inc. in its agreement to sell its retirement living operations comprised of 1,048 retirement living suites across 11 retirement communities, located in Ontario and Saskatchewan, to SiennaSabra LP for an aggregate purchase price of $307.5 million, subject to customary closing adjustments. SiennaSabra LP is a partnership formed between Sienna Senior Living Inc. and SABRA Healthcare REIT. The transaction is expected to close in the second quarter of 2022.

The Bennett Jones team is led by Aleksandra Finelli, and includes Jeff Kerbel, Tom Bauer, Susan Seller, John Gilmore, Adam Kalbfleisch, Zirjan Derwa, Jeilah Chan and Sarah Gilbert.

More information is available in Extendicare's news release on the transaction.

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Authors

Zirjan (Zee) J. Derwa, Partner
Toronto  •   416.777.6442  •   derwaz@bennettjones.com
Thomas A. Bauer, Partner   •   Co-Head of Tax Department
Toronto  •   416.777.6540  •   bauert@bennettjones.com
Sarah E. Gilbert, Partner
Toronto  •   416.777.7467  •   gilberts@bennettjones.com
Adam Kalbfleisch, Partner
Toronto  •   416.777.5757  •   kalbfleischa@bennettjones.com
Susan G. Seller, Partner
Toronto  •   416.777.5638  •   sellersg@bennettjones.com