In a deal valued at more than $300 million, a portfolio of eight senior’s residences across British Columbia and Alberta were purchased September 15 in a transaction handled by Vancouver-based brokerage Newmark Canada.
The Hamlet portfolio traded from H&H Total Services Inc.– a family-owned business based in Surrey, B.C. – to a joint venture partnership between Axium Infrastructure, an independent portfolio management firm with offices in Canada, the U.S. and the U.K. and Optima Living, a Western Canada-focused owner/operator.
The B.C. Hamlet residences are located in Duncan, the Fleetwood area of Surrey, Penticton, Vernon and the Westsysde community of Kamloops, while the Alberta residences are in the Cedarwood Station area of Airdrie, the Deer Park neighbourhood of Spruce Grove, and Red Deer.
Newmark executive managing director Mark Gallagher, senior managing director BJ Bhal and managing director Dave Kalinowsky represented the seller, H&H, in the transaction.
