Newmark Advises Ontario Teachers’ Pension Plan in C$4.6B Agreement to Sell Amica Senior Lifestyles

March 27, 2025 3:00 PM

Newmark announces that it served as real estate advisor to the Ontario Teachers’ Pension Plan Board (“Ontario Teachers’”) in connection with its agreement to sell Amica Senior Lifestyles (“Amica”) and certain of its assets and affiliates to Welltower Inc., a real estate investment trust that invests in leading seniors housing, post-acute and health system properties and operators across the United States, Canada and the United Kingdom, for CA$4.6 billion. Newmark Executive Managing Director Mark Gallagher, Senior Managing Director BJ Bhal and Managing Director David Kalinowsky, in collaboration with President of Capital Markets for North America Chad Lavender, Vice Chairman of Healthcare & Alternative Assets Ryan Maconachy and Head of International Capital Markets Alex Foshay, acted as real estate advisors to Ontario Teachers. Regional Managing Director, Valuation & Advisory Norm LeZotte MAI and Amani Jawhari also supported the negotiations.

Amica is one of the leading providers of premium senior living residences in Canada. It is uniquely structured as an integrated owner, operator and developer of private independent living, assisted living and memory care facilities for seniors in Ontario and British Columbia. Ontario Teachers’ made its initial platform investment in Amica in 2010 alongside co-founders Douglas MacLatchy and Robert Ezer. Amica has since grown to a portfolio of 31 income-producing properties and seven properties under construction located in some of Canada’s most affluent neighborhoods.

“Newmark’s ability to bring together our market-leading underwriting and valuation expertise, our deep, on-the-ground seniors housing knowledge across Canada and our globally connected seniors housing capital markets team offered our clients an unparalleled global reach,” said Gallagher. “Through strategic positioning of Amica’s growth story, we helped showcase its trajectory to the market, delivering an exceptional outcome for our client.”

“The sale of Amica Senior Lifestyles is a significant agreement that underscores the strength of the senior living sector and investor confidence in its long-term fundamentals,” added Lavender. “This outcome is a testament to our team’s depth, collaboration and commitment to delivering strategic solutions for complex, high-profile engagements.”

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended December 31, 2024, Newmark generated revenues of over $2.7 billion. As of December 31, 2024, Newmark and our business partners together operated from approximately 170 offices with more than 8,000 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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