COGIR Management is all Jazzed-up as it Acquires New Banner

On March 1st, 2012, Cogir marked an important achievement following a full year of hard work in business development. Following an agreement last fall with a leading Quebec institutional investor, Cogir was looking to increase its investments in the senior retirement home sector across Quebec. The company is aiming to increase its acquisitions, expansions of current facilities and constructions of new homes.

COGIR confirmed the first investment made possible by this partnership on March 1st by announcing the acquisition of the JAZZ retirement home banner, which includes 5 homes located inLongueuil, Drummondville, Ste-Foy, Lebourgneuf and Lévis. All homes are of superior quality and relatively recent, for a total of approximately 1,000 living units. Three residences have great expansion potential for approximately 500 additional apartments. The total transaction came to over$150,000,000.

This transaction strengthens COGIR's positioning as an industry leader, with over 40 homes under the AZUR banner as well as JAZZ. ''We will continue to use our expertise and all our efforts to provide high-quality services and a safe & friendly environment to all residents'' says Mathieu Duguay, Executive Vice-President, COGIR Management Corporation.

For more information, please contact Mr. Mathieu Duguay, Executive Vice-President, COGIR Management Corporation.
Tél.: (450) 671-6381
 

on March 14, 2012