Shearman & Sterling represented RBC Capital, as administrative agent, in providing a CAD $90 million financing of the CAD $170.5 million acquisition by Sabra Health Care REIT, Inc. of a nine-property senior housing portfolio located in British Columbia and Ontario, Canada. The properties consist of private pay independent living and assisted living facilities, with 302 units located in British Columbia and 563 units in Ontario.
Sabra Health Care REIT, Inc. operates as a self-administered, self-managed real estate investment trust that, through its subsidiaries, owns and invests in real estate serving the healthcare industry. Sabra primarily generates revenues by leasing properties to tenants and operators throughout the United States.
The Shearman & Sterling team included partner Malcolm Montgomery (New York-Real Estate), special associate Elizabeth Martialay (New York-Real Estate) and associate Julia Twarog (New York-Real Estate).