Chartwell Completes Acquisition of Six Ontario Retirement Communities

Executive Summary

• Chartwell Retirement Residences completed the acquisition of six senior‑housing communities in southwestern Ontario for a total purchase price of $432 million.
• The transaction was funded with $232.7 million of assumed CMHC‑insured debt and cash on hand; $416.2 million paid at closing plus an additional $15.8 million contingent on completion of townhomes at Dorchester Terrace in Q4 2026.
• The added 1,024 suites expand Chartwell’s footprint in a high‑growth market and provide future development upside (e.g., excess land at Erinview for ~140 new suites).

Key Details

• Acquired assets: Six purpose‑built senior housing communities – Riverstone (London), Richmond Woods (London), Longworth (London), Dorchester Terrace (Dorchester), Westhill (Waterloo), and Erinview (Mississauga). Total of 1,024 suites comprising independent living, apartments, and townhomes.
• Purchase price: Approximately $432 million total; $416.2 million paid at closing, $15.8 million payable upon completion of Dorchester Terrace townhomes (expected Q4 2026).
• Financing structure: Assumption of ~​$232.7 million in‑place debt (majority CMHC‑insured) and use of cash on hand for the balance. No new equity or external financing disclosed.
• Future development potential:
• Erinview site includes excess land that could support ≈140 additional suites.
• Dorchester Terrace townhomes (29 units) under construction, slated for completion Q4 2026.
• Strategic rationale: Strengthens Chartwell’s presence in southwestern Ontario, aligns with its growth strategy of investing in newer, high‑quality purpose‑built communities, and adds operational fundamentals and expansion opportunities.

Notable Quotes

“This closing marks an important milestone in executing our disciplined growth strategy,” said Jonathan Boulakia, Chief Investment Officer.
“We are pleased to welcome residents and team members from these communities into the Chartwell family,” added Vlad Volodarski, CEO.