On May 7, Chartwell Retirement Residences( TSX: CSH.UN)entered into a definitive arrangement to obtain a minority ownership stake in Seasons Retirement Communities through a new joint endeavor with Fengate Asset Management.Chartwell will own a 30%stake in the joint venture, while Fengate– the existing owner acting upon behalf of the LiUNA Pension Fund of Central and Eastern Canada– will own the staying 70 %. The portfolio consists of 23 elders housing
homes located in Ontario, Alberta, and British Columbia with a grand overall of 2,943 suites and an occupancy rate of around 86%, according to a press release.Chartwell, already one of the largest owners and operators of seniors
real estate in Canada, will pay $382.5 million for the 30% ownership stake, valuing the whole portfolio at $1.275 billion. The purchase will be moneyed by money and the assumption of around$ 195.8 countless in-place home loans that together have a weighted typical rates of interest of 4.47%and weighted average term to maturity of 3.7 years.RBC Capital Markets worked as the exclusive financial consultant to Chartwell and the deal is expected to nearby completion of Q2 2026, pending third-party consents and regulative approvals.The portfolio of 23 properties– including 2 homes in Vancouver that Fengate acquired from Show Properties in 2015, as formerly reported by STOREYS– are as follows: Wesbrook Village, Vancouver, BC: 154 units Arbutus, Vancouver, BC: 141 units London, London, ON: 159 units St. Catharines, St. Catharines, ON:
- 143 units Cambridge, Cambridge, ON:
- 139 units St. Thomas, St. Thomas, ON
- : 151 systems Stoney Creek, Stoney Creek,
- ON: 136 systems Milton, Milton, ON: 150 units Strathroy, Strathroy, ON: 117 units
- Dufferin Centre, Trenton, ON: 125 systems Brantford, Brantford, ON: 146 systems
- Owen Noise, Owen Noise, ON:
- 118 units Welland, Welland, ON: 144 systems Amherstburg, Amherstburg, ON: 128 systems Belle River, Belle River, ON: 105 units
- Royal Oak Town, LaSalle, ON: 127 units Lethbridge Gardens, Lethbridge, AB
- : 103 units Repetition, Olds, AB: 107 units High River, High River, AB: 176 systems
- Drayton Valley, Drayton Valley, AB: 68 units Camrose, Camrose, AB: 141 units
- Ponoka, Ponoka, AB: 68 systems
- Wetaskiwin, Wetaskiwin, AB: 97 systems
- An overview of the 23 properties.( Chartwell Retirement
Residences) “These neighborhoods are developed to serve a broad variety of elders and strategically situated in markets with strong underlying basics,”said Chartwell, which will function as operations supervisor of the portfolio. Fengate will act as the asset manager.The brand-new partnership can also be expanded in the future, with Chartwell having the chance to obtain an additional 20%ownership stake in the portfolio”upon certain turning points being met.”In addition, Chartwell”will have the option to take part in Fengate’s future advancement of retirement residences in Ontario. “”This Transaction shows the ongoing execution of our disciplined financial investment strategy focused on getting high-quality
houses in core markets with strong demographic profiles and long-term need principles,”said Chartwell CIO Jonathan Boulakia.”The Portfolio’s embedded lease-up and functional optimization chances, combined with Chartwell’s tested operating platform and knowledge, place us to provide strong risk-adjusted returns for our unitholders.”Chartwell Q1 2026 The joint endeavor with Fengate was revealed together with Chartwell’s Q1 2026 report, in which Chartwell also disclosed numerous other transactions.In March, Chartwell obtained the staying 15%ownership interest in the 421-unit Chartwell L’Unique in Montreal from Batimo for$18.8 million and sold a non-core residential or commercial property in Ottawa for$49.0 million.In April, Chartwell closed
on its previously-announced acquisition of six Ontario properties from Sifton Characteristics for$416.2 million(after some regulative issues ), participated in an arrangement to acquire 100%of the 116-unit Palermo Village Retirement
House in Oakville for$43.0 million, and likewise agreed to offer 677 systems throughout 9 non-core properties in Ontario for a total of$117.9 million.Most recently in May, Chartwell entered into a contract to sell Chartwell Ballycliffe LTC in Ajax, Ontario for $68.3 million, with closing anticipated in Q4 2026. Since Might 7, Chartwell stated it had $581.6 million in liquidity, split between$ 186.7 countless money and $394.9 million in offered credit facilities.Property profits increased by$59.4 million from Q1 2025 to Q1 2026, although earnings decreased by$25.2 million. Same home adjusted net operating income (NOI)
increased by 15.6%because exact same time and exact same property changed NOI per occupied suite increased by 10.7%.