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Chartwell Completes Sale of its Interests in Ontario Long Term Care Platform

MISSISSAUGA, ONTARIO – September 6, 2023 – Chartwell Retirement Residences (“Chartwell”) (TSX: CSH.UN) announced today that it has completed the previously announced sale of its ownership of 16 Ontario Long Term Care (“OLTC”) homes with 2,418 beds to Age Care Health Services Inc. and its affiliates (“AgeCare”) and a fund managed by Axium Infrastructure Inc. and its affiliates (“Axium”). Chartwell’s OLTC management platform, which serves 23 owned and managed homes with 3,384 beds has also been sold to AgeCare. Chartwell expects that AgeCare and Axium (collectively the “Purchasers”) will acquire, under a forward purchase agreement, another OLTC home with 224  Read More...