Réseau Sélection and Revera Acquire Seniors' Residence

Reseau Selection in partnership with Revera Inc. completed the acquisition of “Le Cambridge,” a prestigious seniors' residence located in Pointe-Claire, from Placements Cambridge Inc., a joint venture between Fonds immobilier de solidarite FTQ and Groupe Prevel.

Reseau Selection specializes in the construction, management and administration of private retirement complexes. Revera is a North-American leader of seniors' accommodations, care and services with over 30,000 employees. This transaction marks the first time that Reseau Selection and Revera have come together as partners.

Revera was represented by in-house General Counsel Frank Cerrone and Corporate Counsel Kim Kowalik. Outside counsel for both Reseau Selection and Revera was Davis LLP with a team comprising of Hubert Sibre, Marc Philibert, Julien Archambault and Felix Touzin. Reseau Selection and Revera were also advised by KPMG for tax issues.

Fonds immobilier de solidarite FTQ and Groupe Prevel were represented by Davies Ward Phillips & Vineberg LLP with a team that included Joseph Jarjour and Elise Beauregard (real estate) and Marie-Emmanuelle Vaillancourt (tax), with assistance from Francois Martel, legal counsel at Fonds immobilier de solidarite FTQ.

The acquisition was financed primarily by Industrielle Alliance represented by Marc Genereux of Fasken Martineau DuMoulin LLP.