Prima Living, backed by Primacorp Ventures, has expanded its presence in the Canadian senior living market by assuming management of three established retirement communities in Ontario: Trafalgar Lodge (Oakville), Rayoak Place (North York), and Amenida Pickering. This move, effective October 1, 2025, includes the purchase of two assets from Revera, adding 506 suites to Prima Living's portfolio and bringing their total managed residences to five across three provinces. The company is investing over $1 million in renovations for Trafalgar Lodge and Rayoak Place to enhance resident comfort and accessibility.
This expansion signals a significant growth trajectory for Prima Living, with President Najib Raie stating the company's goal to grow to 65 communities nationwide. The Minister for Seniors and Accessibility, Raymond Cho, lauded the expansion, noting its contribution to enhancing the quality of life for Ontario's seniors. Prima Living emphasizes compassionate care, operational excellence, and cultural inclusivity as core tenets of its strategy.
The broader senior housing and care M&A market remains strong, with a high volume of transactions. In Q2 2026, there were 240 publicly announced deals, matching Q1 2026's pace and representing a 25.7% increase from Q2 2025. Total spending on transactions in Q2 2026 was approximately $3.89 billion, consistent with Q1 2026's $3.95 billion. Assisted living deals dominated in Q1 2026, accounting for 50.4% of transactions, followed by skilled nursing at 35.8%.
Experts note that a lack of new development combined with favorable demographic trends is driving increased investor interest in acquisitions, leading to soaring prices for high-quality, stabilized seniors housing communities. While prime assets are keenly sought after, middle-market communities are also gaining traction due to potential operational upside at more attractive price points. This trend suggests a competitive and robust M&A landscape in the senior living sector for the foreseeable future.
