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 loan extended by Chartwell to Batimo,” said Chartwell. “A portion of the purchase price of $0.65 million is held back to support the vendor NOI guarantee obligations to Chartwell.”

In addition, Chartwell completed the acquisition of a 100% ownership interest in Résidence Panorama in Laval, Que., for $76 million.

With the closings, Mississauga, Ont.-based Chartwell completed the acquisition of 950 suites altogether. Earlier, the company closed on the purchase of Résidence Azalis in Repentigny (376 suites) for $128.2 million.

Chartwell announced the latest two completions in its latest quarterly report. The company said it now has $508 million in liquidity, including $113.1 million in cash and cash equivalents, along with $349.9 million of available borrowing capacity on its revolving credit facilities.

Chartwell also announced its intention to file a news prospectus supplement to renew the firm’s at-the-market equity-distribution. That will allow Chartwell to issue up to $500 million of trust units.

Chartwell operates one of Canada’s largest networks of seniors housing communities, serving about 25,000 residents across four provinces.

Pictured: Chartwell’s newly purchased Résidence L’Aubier in Lévis, Que.

Photo: Résidences Québec