Homes and Condo Mississauga

ONE Properties and Revera Enter Joint Venture to Develop New Retirement Communities in Key Urban Markets Across Canada









EDMONTON and MISSISSAUGA, ON Nov. 20, 2018 / CNW / – ONE Properties, a dynamic property development company and Revera Inc., a leading owner, operator, developer and investor in the senior sector, today announced that they have agreed to a joint venture enter into partnership to develop new retirement communities in major urban markets throughout Canada .

As their first project, Revera and ONE Properties will bring an exciting, best-in-class senior residential residence to Edmonton . Clifton Place, a spectacular location overlooking the North Saskatchewan River, will be built near 124th Street and 102nd Avenue.

The Clifton Place project is designed to contain a maximum of 290 residential pension suites that provide ages at the place of living for the markets for seniors, independent living, memory care and assisted living

The project is located in a mature neighborhood and offers numerous amenities, services and boutiques in the vicinity. Clifton Place is a unique urban hub that combines the best of city life with the elegance of the beautiful river valley of Edmonton . Construction is expected to begin in 2019.

ONE Properties will act as the developer of the project and carry out the approval process, together with monitoring the construction of the development. Revera will design the project and manage the marketing and operations for the residence in the future. "

" This collaboration enables Revera and ONE Properties to build on each other's strengths with the aim to create a truly special community for older adults in [19659004] Edmonton & # 39; s beautiful Glenora neighborhood, "said Thomas G. Wellner President and CEO of Revera Inc." These types of strategic partnerships, which bring together the expertise of Revera in the elderly with a strong development partner such as ONE Properties, are an important part of our growth strategy because they put our customer at the heart of our plans. "

" ONE Properties is enthusiastic about the new relationship with Revera. We see the lives of seniors as an addition to many of our existing assets and also aligns with our future strategy. The life of the seniors has become part of many mixed and other residential and retail developments, and we look forward to including Revera in many of our projects in the near future, "said Darren Durstling President and CEO from ONE Properties. "Revera is an elite operator in a growing property investment class and this relationship will serve to further improve both organizations for the communities in which we operate."

About ONE Properties
ONE Properties ( ONE) is a dynamic real estate company that is inspired to make life better through the values ​​of integrity, cooperation and alignment with all of our stakeholders, including tenants, investors, partners and the communities we serve.One is focused on creating value through the strategic acquisition, development and management of retail, offices, industrial, residential and mixed-use buildings in progress the markets. ONE is headquartered in Edmonton with additional offices in Calgary and Toronto . For more information about ONE Properties, visit oneproperties.com .

About Revera
Revera is a leading owner, operator, developer and investor in the senior sector. Revera has over 500 properties through its portfolio of partnerships in Canada the United States and the United Kingdom serving more than 55,000 seniors. The company offers senior apartments, independent living, assisted living, memory care and long-term care. With around 50,000 employees dedicated to providing exceptional care and service, Revera helps seniors to live their lives to the fullest. Via Age is More Revera is committed to a challenge for ageism, the social reason for choosing the company. More information on ReveraLiving.com Facebook.com/Revera Inc or on Twitter @Revera_Inc .

SOURCE Revera Inc.

For more information: Larry Roberts, Senior Manager, Corporate Affairs, Revera Inc., (289) 997-5721, larry.roberts@reveraliving.com; Lindsay Robinson, Marketing Manager, ONE Properties, (780) 784-3460, lrobinson@oneproperties.com

RELATED LINKS
www.reveraliving.com



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