Wednesday, November 22, 2006

Seniors' Residence In Kanata Sold

Empress Kanata Seniors Residence has been purchased for $19.6 million by Chartwell Seniors Housing Real Estate Investment Trust (REIT).

Primecorp's Healthcare Group acted as adviser on the transaction and noted that investment demand in the seniors' housing market continues to be strong, with high prices for facilities which offered "premium services" such as spas, concierge services, and wellness centers.

As more affluent seniors consider retirement accommodations, trends show and this sale corroborates that we are experiencing a higher absorption for larger units and at higher rental rates.

The investment trust now owns a 100-per-cent interest in the Empress Kanata residence, a three-storey building made up of 90 independent and assisted-living suites.


Post a Comment

<< Home