HCN and Revera to Acquire Regal Lifestyle Communities Through Joint Venture
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Health Care REIT (HCN), Revera to Acquire Regal Lifestyle Communities in $623M Deal
June 18, 2015 8:34 AM EDTHealth Care REIT (NYSE: HCN) and Revera, Inc. (Revera) announced that they have entered into a definitive agreement to acquire Regal Lifestyle Communities Inc. ("Regal") through an existing 75/25 joint venture (JV) for CAD$12.00 per share in cash, or a total enterprise value of approximately CAD$766 million, or US$623 million. The initial cash yield is anticipated to be 6.1% and anticipated to be immediately accretive to FFO and FAD per share. All currency references are based upon an exchange rate of CAD to USD of 1.23:1.
Regal is a publicly traded Canadian corporation that owns and operates 23 high-quality... More
