A Toronto-based real estate investment firm has acquired several Ottawa properties as part of a bid to expand its portfolio of retirement residences across North America.
Marlin Spring said Monday it’s purchased eight retirement homes from Mississauga-based Revera, including three in the National Capital Region. Financial terms of the transaction were not disclosed.
In addition to the Ottawa properties, Marlin Spring also acquired retirement homes in Kitchener, Mississauga, Oshawa and Richmond Hill. The facilities will be operated by the company’s new Spring Living Retirement Communities arm, which also includes a property in Burlington that Marlin Spring purchased in 2019 and another in nearby Waterdown it acquired last year.