Chartwell Retirement (CSH) is back with a $430M deal for just over 1K suites, this time across Ontario - adding more than 8% to bed count when combined with its $290M, ~1K suite expansion in Quebec announced just over a week ago.
The deal includes excess land at one of the sites that acts as a lever for organic development (up to 140 suites). It’s financed partly by $230M of assumed debt (4.5%, 20-year term) with the remainder handled by already planned CMHC financings.
With $450M of available liquidity, favourable age demographics, and a management team with their foot on the gas - it’s unlikely this deal will be their last this year.
We hope to continue this momentum throughout 2025, with more exciting strategic acquisitions being evaluated and at various stages of negotiation.
