Cogir Real Estate Makes Significant Inroads in the Canadian Retirement Home Market

04 December 2023
Émilien

Cogir Real Estate Makes Significant Inroads in the Canadian Retirement Home Market

Cogir Real Estate is pleased to announce that, on the first day of December, the company has received a major new management mandate in the private retirement home market. This mission involves 70 residences representing a total of 10,000 apartments located in six (6) Canadian provinces, four of which are new territory for the Company, namely Manitoba, Saskatchewan, Alberta and Newfoundland and Labrador. The other residences are situated in Ontario and British Columbia where Cogir is already managing retirement homes and multi-residential properties.

With this new mandate comes the creation of Cogir Senior Living Canada as over 200 colleagues formerly working in Revera Retirement Living’s administrative offices will now be joining the great Cogir family along with the operational platform currently in place.

Overall, some 6,000 new colleagues will be joining our large family.

This mandate has been possible thanks to the trust placed in us by our clients Welltower, Revera and Harrison Street for which Cogir has been managing buildings for several years now.

Some 40 buildings among the 70 residences belong to Welltower. They will be operating under the Venvi name. The remaining properties will retain the name on which their reputation has been built. All residences will bear the Cogir seal of management quality.

Cogir now employs 16,000 colleagues in North America and operates 220 seniors’ residences (160 of which are in Canada) with some 40,000 units (32,750 of which are in Canada).

“We are delighted to welcome these new residents and colleagues within the great Cogir family. It is with great enthusiasm that we are joining our skills to those of the on-site teams to provide residents with a living environment tailored to their needs and meeting the highest customer experience standards. The great values that have led to the reputation of Cogir’s team will be at the forefront. This is a great challenge in which our teams of impassioned colleagues intend to excel daily for the benefit of the clients whom we have the privilege to serve,” states Frédéric Soucy, president, Cogir Retirement Homes.

“This new mandate in Canada fits perfectly in the company’s strategic growth plan. While our presence in the retirement home industry has expanded within the province of Québec over the last year, we are now quite pleased to operate a significant number of residences in other parts of the country with the support of the new operating platform acquired with this new mandate. Thanks to the skills and expertise of the on-site teams, we will be able to maintain our growth in Canada, not only in the field of retirement homes, but also in the multi-residential market,” adds Mathieu Duguay, Cogir Real Estate’s chief executive officer and chief investment officer.

For several months now, a dedicated Cogir team has been tasked with carrying out a smooth transition. Its primary objective is to provide excellent service to residents and new colleagues.

About Cogir Real Estate
Incorporated in 1995, Cogir Real Estate employs close to 16,000 people who are passionate about real estate. With our constant desire to give purpose to real estate, we strive to maintain a human focus, to create and to excel in our quest to design living environments that are pleasant, functional and a reflection of their occupants. Our team manages over 420 properties throughout Canada and the United States. We oversee 6 million square feet of commercial property and 60,000 housing units, including more than 220 privately owned seniors’ residences. The Cogir Foundation supports projects and causes involving four major domains, namely youth, seniors, cultural diversity and the environment.

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