Health Care REIT to buy stake in Canadian senior living portfolio

Wed May 8, 2013 6:23am EDT
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May 8 (Reuters) - Health Care REIT Inc said it will acquire a 75 percent stake in privately held Canadian senior living services provider Revera Inc's $1.35 billion housing community portfolio.

The portfolio, which is currently owned by Revera, primarily comprises independent living communities, the companies said in a statement.

The deal is expected to close in the second quarter of 2013.