Business
Chartwell Completes Acquisition of Six Ontario Retirement Communities
Chartwell Completes Acquisition of Six Ontario Retirement Communities Canada NewsWire ...
About this update from Chartwell Retirement Residences
[{"type":"text","content":"\n\n\nChartwell Completes Acquisition of Six Ontario Retirement Communities\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\nCanada NewsWire\n\n\nThis news release constitutes a \"designated news release\" for the purposes of Chartwell Retirement Residences' prospectus supplement dated November 14, 2024, to its short form base shelf prospectus dated April 30, 2024.MISSISSAUGA, ON, April 2, 2026 /CNW/ - Chartwell Retirement Residences (\"Chartwell\") (TSX: CSH.UN) today announced the successful closing of its previously announced acquisition of a portfolio of six senior housing communities totaling 1,024 suites across London, Waterloo, and Mississauga for a total purchase price of $432 million.\n\n\n\n\n\n\n\nThe acquired portfolio expands Chartwell's presence in southwestern Ontario, one of Canada's most dynamic and growing seniors housing markets, and aligns with the organization's strategy of investing in newer, high-quality, purpose-built communities in core markets.\"This closing marks an important milestone in executing our disciplined growth strategy,\" said Jonathan Boulakia, Chief Investment Officer. \"We are pleased to complete this acquisition and integrate a portfolio of modern, well-located communities that enhance our platform. These assets offer strong operational fundamentals and future growth potential, including expansion opportunities such as the future excess land at Erinview in Mississauga and the development of townhomes, currently in construction, at Dorchester Terrace in Dorchester.\"\"We are pleased to welcome residents and team members from these communities into the Chartwell family,\" said Vlad Volodarski, Chief Executive Officer. \"This acquisition reinforces our commitment to serving Canada's seniors with high-quality living environments and supports our objectives of sustainable growth, operational excellence, and delivering meaningful experiences for our residents.\"The portfolio consists of six purpose-built seniors' communities offering a mix of independent living suites, apartments, and townhomes, all operating on a private pay basis:Rive...