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Chartwell Announces June 2024 Distribution and Provides Occupancy Update
Chartwell Announces June 2024 Distribution and Provides Occupancy Update Canada NewsWir...
About this update from Chartwell Retirement Residences
[{"type":"text","content":"\n \n \n \n Chartwell Announces June 2024 Distribution and Provides Occupancy Update\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.prntaj{\nTEXT-ALIGN: JUSTIFY\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 June 17, 2024\n \n \n /CNW/ - Chartwell Retirement Residences (\"Chartwell\") (TSX: CSH.UN) announced today a cash distribution of\n \n $0.051\n \n per Trust Unit. The cash distribution will be payable on\n \n July 15, 2024\n \n to unitholders of record on\n \n June 28, 2024\n \n .\n \n \n Unitholders can participate in Chartwell's Distribution Reinvestment Plan (\"DRIP\"). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units and will also receive bonus units equal to 3% of their monthly cash distributions. DRIP offers unitholders the opportunity to steadily increase their ownership in Chartwell without incurring any commission or brokerage fees. Complete details of the DRIP are available on Chartwell's website at\n \n https://investors.chartwell.com\n \n or from a unitholder's investment advisor.\n \n \n \n Same Property Occupancy Update\n \n \n \n The chart included (Figure 1) summarizes Chartwell's same property monthly weighted average occupancy rates for the months ended\n \n December 31, 2022\n \n , through to\n \n May 31, 2024\n \n , and provides forecasts for same property weighted average occupancy for the months ending\n \n June 30, 2024\n \n and\n \n July 31\n \n , 2024.\n \n \n \n \n \n \n \n \n \n To date in 2024, our same property permanent move-in activity has exceeded the same periods in 2023 by 18%. We expect to achieve continued occupancy growth in 2024 and beyond, driven by the successful execution of our operating, marketing, and sales strategies, and supported by strong demand resulting from accelerating demographic growth, shortages of long term care beds, and fewer seniors housing construction starts.\n \n \n \n \n Forward-Looking Information\n \n \n \n \n This press release contains forward-looking information that reflects the current expecta...