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Optima, Axium Infrastructure buy Alberta senior facilities

Optima Living and Axium Infrastructure have acquired four seniors' supportive living facilities in the Alberta communities of Slave Lake, Lac La Biche, Wetaskiwin and Cochrane.

Optima Living and Axium Infrastructure have acquired four seniors’ supportive living facilities in the Alberta communities of Slave Lake, Lac La Biche, Wetaskiwin and Cochrane. No financial terms were disclosed. The seller of the facilities was Points West Living.

PRESS RELEASE

EDMONTON, AB, April 6, 2021 /CNW/ – Optima Living and joint venture partner Axium Infrastructure today announced they have acquired four seniors’ supportive living facilities from Points West Living in the Alberta communities of Slave Lake, Lac La Biche, Wetaskiwin, and Cochrane.

The announcement adds another 305 beds to the Joint Venture portfolio which now owns just under 500 beds. In November last year, Optima Living and Axium Infrastructure announced they had acquired 186 beds in the Edmonton area from Chartwell Retirement Residences.

“Axium is pleased to partner on this second transaction with Optima Living,” said Alexandre Galarneau-Micone, Vice President & Investment Director of Axium. “Optima Living is recognized as providing high-quality seniors’ accommodation services in western Canada’s continuing care sector. Today’s announcement is consistent with our strategy of investing in core social infrastructure facilities that offer essential services to the community in partnership with strong operators that provide excellent care services to residents,” he said.

“Optima Living looks forward to becoming part of four new seniors’ care communities in Alberta and engaging with all residents and employees to offer high-quality care and services,” said Karim Kassam, Co-Founder, and Principal of Optima Living. “Our company’s North Star, Let us welcome you home, speaks to the underlying principles, and the experience seniors can expect when they move into an Optima community.”

About Optima Living
For the past 13 years, Optima Living has established a strong reputation as an owner and operator of seniors’ residential communities located in western Canada. These communities range from Independent to Assisted Living, Long term Care to Memory Care Living and Residential Mental Health. It currently manages more than 800 beds and has almost another 300 beds under construction in Alberta and B.C. Optima believes what sets it apart is the unique culture the company works to create in all its seniors’ residential communities, as stated in its North Star – Let us welcome you home. For further information, visit www.optimaliving.ca

About Axium Infrastructure:
Axium Infrastructure (comprised of Axium Infrastructure Inc. and its affiliated entities) is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Axium Infrastructure had approximately C$5.6 billion in assets under management as of September 30, 2020, as well as approximately C$1.7 billion in co-investments. The firm benefits from the capabilities of a group of specialists with decades of experience acquiring, developing, financing, operating, and managing infrastructure assets. Focus is placed on assets that are supported by robust market demand and under long-term contracts with creditworthy counterparties. Since 2010, the firm has invested in a diversified portfolio of over 160 North American infrastructure assets. For further information, including information about other infrastructure assets the firm has invested in, please visit www.axiuminfra.com. This release is for informational purposes only and does not constitute an offer or solicitation to buy securities of any entity.