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Seniors' Housing

People playing dominoes

Subject Property

A 423,000 sq. ft. independent living, assisted living, memory care and skilled nursing facility that includes 325 units and a community centre.

Key Issue

The facility was built in 2008/2009 at a total cost of over $98 million. The assessor used cost to support the assessment.

Results

Altus Group appealed and reduced the assessment from $56.8 million to $32.3 million resulting in tax savings of $425,000.

About Altus Group

Altus Group Limited is a leading provider of independent advisory services, software, and data solutions to the global commercial real estate industry. Our businesses, Altus Analytics and Expert Services, reflect decades of experience, a range of expertise, and technology-enabled capabilities. Our solutions empower clients to analyze, gain market insight and recognize value on their real estate investments. Headquartered in Canada, we have approximately 2,300 employees around the world, with operations in North America, Europe and Asia Pacific. Our clients include some of the world’s largest real estate industry participants across a variety of sectors. Altus Group pays a quarterly dividend of $0.15 per share and our securities are traded on the TSX under the symbols AIF and AIF.DB.A. 

 

 

Size

423,000 sq. ft.

Results

43% reduction in real estate taxes

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