Optima Living, Axium Infrastructure and Desjardins Global Asset Management Acquire Five Alberta Seniors Communities
EDMONTON, Alberta — Optima Living, Axium Infrastructure and Desjardins Global Asset Management announced Oct. 6 the acquisition of five seniors living and continuing care communities from The Brenda Strafford Foundation in Calgary and Okotoks, Alberta. The transaction adds more than 1,000 suites to Optima's operations and includes a support office in Calgary.
The acquired communities are Bow View Manor, Cambridge Manor, Clifton House, Tudor Manor and Wentworth Manor. Axium Infrastructure is investing through one of its managed funds, and Desjardins Global Asset Management is investing through the DGAM Global Private Infrastructure Fund.
Acquisition Expands Optima Living and Axium Infrastructure Portfolio to 30 Communities
With the transaction, the jointly held portfolio of Optima Living and Axium Infrastructure grows to 30 seniors living communities across Western Canada. The partners said the deal more than doubles their collective investment in seniors living and care infrastructure.
The acquisition adds more than 1,000 suites and brings Optima's total suites under management to more than 6,200. Optima said it has grown its portfolio by 45 per cent in 2026, as measured by number of suites under management.
The five communities were acquired following a search process led by The Brenda Strafford Foundation's Board of Directors. According to the announcement, Optima and its partners were selected based on their alignment with the foundation's values and their long-term commitment to the seniors care sector, as well as to residents, families, employees and the communities in which they operate.
Desjardins Global Asset Management Makes Second Seniors Living Investment
The deal marks the DGAM Global Private Infrastructure Fund's second investment alongside Axium Infrastructure and Optima Living in the seniors living sector. The partners described the transaction as advancing a shared commitment to investing in essential seniors' infrastructure and supporting access to person-centred care as Canadians age.
"This acquisition reflects our disciplined approach to growth and achieving scale in core markets," said Karim Kassam, Co-founder and Principal of Optima Living. "Being chosen as the preferred purchaser from a competitive field speaks to the trust we've built as one of Canada's leading operators and reflects our success in establishing a values-based approach."
Dominic Chalifoux, Chief Asset Management and Valuation Officer at Axium Infrastructure, said the transaction strengthens the firm's position in the Canadian long-term care sector. "As our partner, Optima's operational discipline and commitment to delivering exceptional resident and employee experiences allow us to continue scaling our partnership with confidence," he said.
Pierre Asselin, Senior Director, Infrastructure Investments at Desjardins Global Asset Management, said the investment reflects confidence in the sector's long-term growth and resilience. He also said the firm is pleased to strengthen its partnership with Axium, with which it has invested across multiple infrastructure sectors.
Property Details: Calgary and Okotoks Communities
Bow View Manor is located at 4628 Montgomery Blvd. NW in Calgary and has operated in the community since 1975. Public listings identify 193 units at the property. Cambridge Manor is at 253 Smith St. NW in Calgary, Clifton House is at 907 47 St. SE in Calgary, and Wentworth Manor is at 5717 14 Ave. SW in Calgary. Tudor Manor is at 200 Sandstone Dr. in Okotoks.
The properties were previously owned and operated by The Brenda Strafford Foundation, which has described its Alberta platform as serving more than 1,000 seniors across Calgary and Okotoks.
Alberta Central to Optima Living Growth Strategy
Alberta accounts for 76 per cent of Optima's communities. Since 2020, Optima and its investment partners have invested more than $1 billion in the province through seniors living and care infrastructure, according to the announcement.
Optima was founded in 2007 and offers independent living, assisted living, supportive living, long-term care, and brain health and memory care. It serves more than 6,000 residents across Alberta and British Columbia and was named one of Canada's Top Growing Companies 2026 by The Globe and Mail's Report on Business magazine.
Axium Infrastructure is an independent portfolio management firm focused on core infrastructure assets, with approximately C$14.4 billion in assets under management and approximately C$2.2 billion in co-investments as of June 30, 2026. Desjardins Global Asset Management, together with Guardian Capital Group Limited and its other subsidiaries, represents C$305 billion in assets under management and administration as of June 30, 2026.
Market Context: Record Seniors Housing Transaction Activity
The acquisition comes during a period of heightened transaction activity in Canadian seniors housing. Approximately C$8 billion of Canadian senior-housing and care-property transactions have been completed so far in 2026, compared with the previous high of C$4.9 billion in 2007.
Average Canadian occupancy is approximately 94 per cent, up 2.5 percentage points year over year, with operators tracking toward approximately 95 per cent by the end of 2026. Alberta occupancy has improved by approximately 25 percentage points since 2021. New inventory is projected to be below 1 per cent of existing stock by year-end.
CBRE reported that investor demand for Class A seniors housing remained stable in the second quarter of 2026, with cap rates broadly unchanged nationally.
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