Reichmann Family Sells Senior Care Portfolio to Ventas Inc.

On November 7, 2006, entities affiliated with Canada's Reichmann family completed the sale to Ventas, Inc., a leading US healthcare REIT, of a portfolio of 64 healthcare and seniors housing properties for US$602.4 million. Ventas has leased the properties to affiliates of Senior Care, Inc., an entity affiliated with the Reichmann family, on a 15-year triple-net basis, with two five-year extensions.

The Reichmann family and Senior Care, Inc. were represented by a team from Goodmans LLP led by Stephen Pincus (corporate) and including William Alcamo (real estate), Michelle Roth and Brad Ross (corporate); on tax matters by John Ulmer, Colin Campbell and Paul Lamarre of Davies Ward Phillips & Vineberg LLP; and in the US by Steven Adelkoff, Ira Kaufman and Adam Kelson of Kirkpatrick & Lockhart Nicholson Graham LLP.

Ventas, Inc. was represented by a team from Willkie Farr & Gallagher LLP led by Steven Seidman (corporate) and Steven Klein (real estate) and that included Rosalind Fahey Kruse, Mark Getachew and Manuel Miranda (corporate), Henry Cohn, James Brown and Natalie Tal (tax), David Rubinsky (employee benefits), Gary Litke, Mal Serure, Daniel Backer, Bernadette Davida, Kate Dolan, Alycia Green, Leah Harary, Jack Horn, Rachel Kaunfer, Aileen Moyano and Debra Sapp (real estate), Carolyn Conkling, Kevin Klesh, Michael Caplan, Sanjay Narayan, and Moneen Nasmith (environmental).