Bennett JonesClient Work Extendicare Announces Agreement to Sell Esprit Retirement Communities for $307.5 MillionFebruary 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. Republishing Requests For permission to republish this or any other publication, contact Peter Zvanitajs at ZvanitajsP@bennettjones.com. For informational purposes only This publication provides an overview of legal trends and updates for informational purposes only. For personalized legal advice, please contact the authors. AuthorsZirjan (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 |
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