Optima-Led Group Buys 1,000-Plus-Suite Alberta Seniors Portfolio
Optima Living and its investment partners have acquired five seniors living and continuing-care communities in the Calgary area, adding more than 1,000 suites to a Western Canadian portfolio that has expanded sharply this year.
The five communities were acquired from The Brenda Strafford Foundation. Financial terms were not disclosed.
Optima partnered on the acquisition with an Axium Infrastructure-managed fund and the DGAM Global Private Infrastructure Fund, managed by Desjardins Global Asset Management.
The portfolio includes Bow View Manor, Cambridge Manor, Clifton House and Wentworth Manor in Calgary, along with Tudor Manor in Okotoks.
The acquisition more than doubles the partners’ collective investment in seniors living and care infrastructure and increases the Optima-Axium portfolio to 30 communities across Western Canada.
Optima said its portfolio has grown 45% this year based on suites under management. The latest acquisition, which also includes a Calgary support office, takes that total above 6,200 suites.
“This acquisition reflects our disciplined approach to growth and achieving scale in core markets,” said Optima co-founder and principal Karim Kassam.
Alberta now represents 76% of Optima’s communities. The company said it and its investment partners have deployed more than $1B into seniors living and care infrastructure in the province since 2020.
The acquisition also marks DGAM’s second seniors-living investment alongside Optima and Axium.
Pictured: Cambridge Manor at 253 Smith St. N.W. in Calgary is one of five seniors living and continuing-care communities acquired by Optima Living and its investment partners.
Join Us | Connect Alternative Real Estate Investments comes to Vancouver on Oct. 15, bringing together investors, owners, developers and lenders to examine where alternative real estate is working, how deals are getting financed and what comes next for B.C. CRE. The program covers seniors housing, student housing, self-storage and other specialized assets, along with the policy, capital and development issues shaping the market. Register here.
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