Chartwell Retirement Residences Acquires Ontario Portfolio for CAD 430M

Chartwell Retirement Residences has agreed to acquire a portfolio of six senior housing communities across Ontario for approximately CAD 430 million. The purchase price consists of CAD 416.2 million to be paid at closing and CAD 15.8 million to be paid on completion of construction expected in Q4 2026. The assumed in-place debt has a weighted average interest rate of 4.50% and a maturity date of March 2045. The transaction is expected to be completed in Q4 2025.

Chartwell Retirement Residences (CSH-UN-T) has announced the acquisition of a $432 million portfolio of six senior living communities across Ontario. The transaction, set to close in the fourth quarter of 2025, includes properties in London, Dorchester, Waterloo, and Mississauga, comprising 1,024 suites.

The acquisition price consists of $416.2 million to be paid at closing and $15.8 million to be paid upon the completion of construction, expected in Q4 2026. The transaction is being financed by assuming in-place debt of $232.7 million, with the majority being CMHC-insured, and from proceeds of already planned 2025 CMHC financings of approximately $240 million. The assumed debt has a weighted average interest rate of 4.50% and a maturity date of March 2045 [1].

The portfolio includes six purpose-built seniors' communities featuring a mix of independent living suites, apartments, and townhomes. The properties are:

- Riverstone, London (2021 and 2023) - 124 retirement suites and 135 seniors apartments and townhomes, part of a net-zero campus with extensive solar infrastructure.
- Richmond Woods, London (2007 and 2010) - 130 retirement suites and 112 seniors apartments and townhomes with community amenities.
- Longworth, London (2001) - 126 retirement suites in a residential neighborhood with nearby community greenspace.
- Dorchester Terrace, Dorchester (2017) - 123 retirement suites with an additional 29 townhomes under development, expected to be completed by the vendor in Q4 2026.
- Westhill, Waterloo (2012 and 2018) - 117 retirement suites and 100 seniors apartments; offering modern amenities in a growing urban region.
- Erinview, Mississauga (2019) - 57 retirement suites with potential for an additional 140 suites on excess land, currently leased to a third party.

The acquisition reflects Chartwell's strategy to expand in high-demand markets with strong demographics and long-term demand fundamentals. The company is one of Canada's largest seniors living operators, currently owning and operating over 170 facilities serving approximately 25,000 residents in four provinces [2].

References:

[1] https://renx.ca/chartwell-acquires-432m-portfolio-of-ontario-seniors-living-residences
[2] https://www.marketwatch.com/story/chartwell-expands-in-ontario-with-c-432m-acquisition-of-retirement-communities-e1bf3abd