The Competition Bureau has announced an agreement with Welltower OP LLC to resolve competition issues related to its planned acquisition of Amica Senior Lifestyles.
A review by the competition authority found that Welltower’s acquisition of the Amica properties could significantly reduce competition for retirement homes in parts of B. C. and Ontario.
As part of this agreement, Welltower will sell four retirement homes from its current portfolio located in Victoria, Vancouver, Brampton, Ont., and Ottawa.
The homes will be sold to independent buyers who need approval from the Commissioner of Competition.
Welltower is a real estate investment trust based in the U. S. that owns 139 retirement home properties across Canada.
Last year, it entered into an agreement to purchase Amica from the Ontario Teachers’ Pension Plan for $4.6 billion.
This report by The Canadian Press was first March 25, 2026.
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This report by The Canadian Press was first March 25, 2026.
The Canadian Press
INsauga’s Editorial Standards and Policies
Last 30 Days: 35,717 Votes
All Time: 1,269,545 Votes
1123 VOTES
Source link
