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Latest Alberta & Prairies Senior Housing Stories
Chartwell Retirement Residences is expanding its footprint in Calgary with the planned purchase of The Edward, a contemporary boutique seniors residence in the city’s Marda Loop area. The company said it agreed to pay $53 million, or $589,000 per suite, for the property. “The acquisition of The Edward is a strategic expansion for Chartwell in …
Vancouver’s commercial real estate (CRE) investment has increased 21% from this point in 2023, says a news Altus Group report. The market has recorded $7.2 billion in transaction volume year-to-date. The robust performance underscores continued investor confidence in the region despite challenges in the broader economic environment, said Altus. However, the third quarter of 2024, …
Latest B.C. Senior Housing Stories
Pinnacle International has revised plans for the first phase of the huge Pinnacle Lougheed mixed-use development in Burnaby, B.C., seeking to raise two proposed towers further into the sky. The updated proposal for the site beside the Lougheed Town Centre SkyTrain station would see one tower rise to 87 storeys from 80 storeys. Meanwhile, the …
PC Urban and Harrison Street Asset Management have teamed up to develop a twin-tower healthcare worker-oriented apartment project near Vancouver General Hospital. According to a published report, Harrison Street recently acquired a majority stake in the project from PC Urban for an undisclosed price. Both towers are slated to stand 22 storeys. The project is …
Latest National Senior Housing Stories
Chartwell Retirement Residences has agreed to acquire a 30% ownership interest in Fengate Asset Management’s Seasons Retirement Communities portfolio for $382.5 million. The portfolio comprises 23 seniors housing communities with 2,943 suites in Ontario, British Columbia and Alberta. Fengate will retain a 70% ownership interest in the joint-venture. Chartwell said the transaction is expected to …
Hazelview Investments and Presima have combined their global REIT teams, the companies announced Monday. Under what the partners described as a strategic transaction, Hazelview will assume Presima’s investment-management contracts, while Presima professionals join Hazelview’s global REIT platform and continue leading their existing strategies, ensuring continuity for clients. Corrado Russo, Hazelview’s chief investment officer for public …
Latest Cross Border News Senior Housing Stories
Welltower has agreed to acquire a portfolio of 38 luxury seniors housing communities and nine development parcels from the Ontario Teachers’ Pension Plan for $4.6 billion. The properties, located in affluent areas of Toronto, Vancouver, and Victoria, B.C., include 31 existing communities valued at $3.2 billion. As part of the transaction, Welltower, a Toledo, Ohio-based …
Chartwell has closed on its asset exchange with Welltower in conjunction with the retirement-home operators’ termination of their joint-venture investment partnership. The termination agreement was announced in the spring of 2023. The companies had expected to complete the asset exchange by the end of 2023; no reason was given for the delayed completion. Toronto-based Chartwell …
Latest Eastern Canada Senior Housing Stories
Latest Maritimes Senior Housing Stories
Vancouver’s commercial real estate (CRE) investment has increased 21% from this point in 2023, says a news Altus Group report. The market has recorded $7.2 billion in transaction volume year-to-date. The robust performance underscores continued investor confidence in the region despite challenges in the broader economic environment, said Altus. However, the third quarter of 2024, …
The federal, provincial and regional governments have invested $16 million in a new multi-residential housing development project in Dartmouth, N.S. The 45-unit Main Street Centre project, which is already under construction, will offer seniors and affordable housing. Of the total, 25 will be designated as affordable units and 20 will offered for market rent. “These …
Latest Ontario Senior Housing Stories
Chartwell Retirement Residences has agreed to acquire a 30% ownership interest in Fengate Asset Management’s Seasons Retirement Communities portfolio for $382.5 million. The portfolio comprises 23 seniors housing communities with 2,943 suites in Ontario, British Columbia and Alberta. Fengate will retain a 70% ownership interest in the joint-venture. Chartwell said the transaction is expected to …
Sienna Senior Living has acquired a 129-suite retirement home in Oshawa for $59.4 million. The property, known as The Bartlett, is an independent-living residence. Sienna paid approximately $461,000 per suite, with an initial investment yield of about 5.75%, said the company. Built in 2021, the residence is roughly 96% occupied and includes amenities as well …
Latest Quebec Senior Housing Stories
Prominent Quebec developer developer Luc Maurice is aiming to create 3,000 new accommodation spaces for seniors at roughly half the cost of traditional long-term care units. The plan centres on a new housing model aimed at seniors with declining autonomy, a group that currently faces long wait times for appropriate care, with about 8,000 people …
Chartwell Retirement Residences has completed the acquisitions two Quebec seniors homes in Quebec. Chartwell purchased a 100% interest in Résidence L’Aubier (376 suites) in Lévis, Que., from development partner Batimo for $128.2 million. Lévis is part of the Quebec City region. “The purchase price was settled in cash and the repayment of a $10.0 million …












