Adds deal details, background

March 2 (Reuters) - Real estate income trust Welltower WELL.N said on Sunday it will acquire the Canada-based senior living company Amica Senior Lifestyles' portfolio from the Ontario Teachers' Pension Plan for C$4.6 billion ($3.18 billion).

As part of the deal, Welltower said it will assume C$560 million in Canada Mortgage and Housing Corp insured debt.

The portfolio from Amica consists of 38 luxury seniors housing communities, 9 entitled development parcels, including a 31-property in-place portfolio, Welltower said.

Welltower expects the deal to close in the fourth quarter of 2025.

In 2015, Ontario Teachers through its BayBridge unit took Amica Mature Lifestyles private for C$578 million and merged it with its seniors-housing subsidiary to create Amica Senior Lifestyles.

Toronto-based Ontario Teachers' is one of the largest pension plans in the world, with about $256 billion of assets under management.

($1 = 1.4448 Canadian dollars)

(Reporting by Bipasha Dey in Bengaluru; Editing by Lisa Shumaker and Bill Berkrot)

((Bipasha.Dey@thomsonreuters.com;))