A Quebec real estate company has bought eight local seniors residences.
Cogir, based on Brossard, Que., has bought seven facilities from Regency Retirements Resort, along with Lakeshore Place — for a total of 1,165 units.
Regency owned Summerwood, Parkwood, Sandalwood, Northwood, Missionwood, Westwood and Soouthwood in the Okanagan.
“We have acquired these residences from well-known local developers and owners with whom we will be able to experience continued growth in the region. This transaction fits perfectly with Cogir’s growth and geographic diversification strategy,” said Mathieu Duguay, Cogir Real Estate’s chief executive officer, in a news release.
Cogir, founded in 1995, manages over 260 properties throughout Canada and the United States, including commercial properties, 32,000 housing units and 70 seniors residences.
“We are looking forward to meeting the teams currently on site. They have done extraordinary work over the years. We are quite eager to bring our skills together and to continue providing the residents with an enjoyable retirement,” said Frédéric Soucy, president of the Cogir Management Company.