SUBSEQUENT EVENT SUBSEQUENT EVENT

6 Months Ended

Jun. 30, 2019

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 17—SUBSEQUENT EVENT

In June 2019, we signed a definitive agreement to acquire 31 Canadian seniors housing communities and certain in-progress developments in an 85/15% partnership with the principal of LGM.  After closing of the acquisition (the “Acquisition Closing”), the portfolio will continue to be managed by LGM.  We will also obtain the exclusive right to jointly develop and own future LGM developments. The acquisition is subject to the satisfaction of customary closing conditions, including receipt of regulatory approvals, and is expected to occur in the third quarter of 2019. However, there can be no assurance as to the completion or terms of the acquisition and joint venture.

In July 2019, we closed the first phase of the acquisition by funding C$947 million (US $723 million) to LGM as a bridge loan to enable LGM to buy out its former partner. The bridge loan is required to be fully repaid upon the Acquisition Closing.