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Ontario  + Alberta & Prairies + Canada + Pacific Canada  + Senior Housing  | 

Chartwell Sells 17 LTC Homes for $443.2M

Chartwell has sold 17 Ontario retirement residences to Age Care Health Services and a fund managed by Axium Infrastructure for $443.2 million

Mississauga, Ont.-based Chartwell said the deal includes 16 existing long-term care homes with 2,418 beds and another 24-bed facility to be built in the first half of 2024.

The 16 existing properties sold for $378.7 million while the one under construction cost $64.5 million. The properties are located primarily in the Greater Toronto Area.

Age Care also purchased Chartwell’s Ontario long-term-care management platform, which serves 23 owned and managed residences with 3,384 beds.

Chartwell, an unincorporated and open-ended real estate trust, ranks as Canada’s largest seniors-home operator, serving 2,500 residents in four provinces.

Axium Infrastructure is a Montreal-based multinational portfolio manager with other offices in Toronto, Vancouver, New York and London. Calgary-based Age Care currently operates 31 continuing-care facilities in Alberta and B.C.

Photo Credit: Chartwell


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About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

  • ◦Sale/Acquisition
  • ◦Development
  • ◦Financing
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