Chartwell Retirement (CSH-U) announced a $290M, ~1K suite expansion in Quebec - spread across a $90M acquisition and two development projects at existing high occupancy sites.

The transaction is the latest of many in what’s been a hot industry, including Sienna’s (SIA) $60M deal and Extendicare’s (EXE) $75M home care acquisition…

… and it’s unlikely to be the last, as favourable age demographics should drive demand across the service offering - with Chartwell, Sienna, and Extendicare being the order as far as stage of life is concerned.

The supply side of the equation is as supportive as the demand side, which could drive pricing power in the near-term…

… and support steady bed count growth over longer time periods.

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