Newmark brokers BJ Bhal, Mark Gallagher and David Kalinowsky, who are widely regarded as the most active real estate brokers for seniors housing in Canada, recently aided Revera in selling eight senior living communities.
The portfolio consists of 584 combined units and sold at a capitalization rate of 6.75% based on 2019 net operating income. There are locations in Richmond Hill, Oshawa, Mississauga, Kitchener and Ottawa, Ontario. A purchase price has not been disclosed.
Marlin Spring, a Toronto-based real estate company, acquired the properties. They have acquired more than 30 projects since 2013, consisting of 9,000 residential units in various stages of development, construction, repositioning and completion across Canada and the United States.
