Virtus Buys Hamilton Retirement Residence For $26M
Virtus Diversified REIT has purchased a 91-suite retirement residence in Hamilton for $26M, expanding its seniors housing portfolio.
The acquisition of Abington Court Retirement Residence at 1500 Main St. E. closed Nov. 3. The independent living property opened in 2005 and added 20 suites in a 2018 expansion.
Located west of the Red Hill Valley Parkway, Abington Court offers meals, housekeeping, medication administration and 24-hour on-site staffing, along with a theatre, library and landscaped courtyard.
Virtus said the residence has historically maintained strong occupancy, including periods at 100%, although it did not disclose current occupancy. The seller was not identified.
The purchase works out to approximately $286K per suite and adds to Virtus’s existing seniors housing holdings, which include the 51-suite Heritage House retirement residence in Guelph, acquired for $5.05M in 2023.
The Toronto-based private REIT invests in income-producing retail, residential, office and seniors housing properties across Canada and the United States. It also sold its RVilla retirement residence in Caledonia for $6.125M in 2025, three years after purchasing it for $4.8M.
The acquisition comes amid a surge in Canadian seniors housing investment. More than $8B in seniors housing and care properties had changed hands by September, surpassing the previous annual record of $4.9B in 2007, according to Cushman & Wakefield. National occupancy reached 94% in the second quarter, with the firm forecasting 95% by year-end.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout