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.