Revera Takes Ownership of Retirement Community in Alberta

Last month, Revera took ownership of Okotoks’ newest retirement residence located in Alberta, Canada.  Revera, which owns and operates 95 retirement residences across Canada, purchased the partially completed retirement community out of receivership and plans to work on completing the construction of the project by February 2011 with a grand opening slated for March 2011.  The 129 unit project located twenty minutes south of Calgary was purchased for $18.99 million.

Revera Okotoks

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“A number of our staff live in the area and have been very impressed by Okotoks’ friendly atmosphere, so when the opportunity to purchase the residence presented itself, we knew it would be a great fit for Revera,” says Michael Harris, Provincial Director for Alberta, who will be overseeing the development of the services and amenities of the residence.

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