Chartwell Announces Acquisition of Rosemont Les Quartiers

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[{"type":"text","content":"\n\n\n\n Chartwell Announces Acquisition of Rosemont Les Quartiers\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n MISSISSAUGA, ON\n \n\n ,\n \n\n Jan. 30, 2025\n \n\n /PRNewswire/ -- Chartwell Retirement Residences (\"Chartwell\" or the \"Trust\") (TSX: CSH.UN) announced today that it has entered into a definitive agreement to acquire Rosemont Les Quartiers, a continuum of care retirement residence in the Rosemont–La Petite-Patrie neighbourhood of\n \n Montreal\n \n for\n \n $136 million\n \n . The transaction is structured with\n \n $130 million\n \n to be paid at closing and a deferred payment of\n \n $6 million\n \n to be paid in 3 years. Closing is expected to occur in Q1 2025.\n \n\n\n\n\n\n\n\n\n Rosemont Les Quartiers is a phased project comprised of 10, 7, and 6-storey connected buildings on a 4.26-acre lot located just east of downtown\n \n Montreal\n \n . Completed between 2016 and 2019, it offers 632 rental suites catering to a range of preferences and care needs.\n \n\n The residence offers easy access to the underground metro and major arterial roads. A wide variety of amenities are in proximity to\n \n Rosemont\n \n including a grocery store, retail shops, parks, and health care institutions such as the Montreal Heart Institute and Hospital Maisonneuve-Rosemont.\n \n\n \"We are pleased to add this large, recently-built residence to our\n \n Quebec\n \n platform. The residence, in a prime location near downtown\n \n Montreal\n \n , is being acquired well below replacement cost. We look forward to welcoming the staff and residents of Rosemont Les Quartiers into the Chartwell family\", commented\n \n Jonathan Boulakia\n \n , Chartwell's Chief Investment Officer.\n \n\n\n\n About Chartwell\n \n\n\n\n Chartwell is in the business of serving and caring for\n \n Canada's\n \n seniors, committed to its vision of Making People's Lives BETTER and to providing a happier, healthier, and more fulfilling life experience for its residents. Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and op...

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