Chartwell Retirement Residences plans to focus on expansion projects rather than new developments in 2025.

The company provided the outlook in conjunction with its latest quarterly report.

Chartwell has adopted the expansion strategy over new developments due to rising construction and financing costs. The company plans to launch one or more expansion projects in 2025 while waiting for improved economic conditions to resume new-site developments​.

In 2024, Chartwell acquired interests in 15 properties, including an 85% stake in three Quebec residences from Batimo. In January, Chartwell announced an agreement to acquire an additional 632-suite Montreal property, Rosemont Les Quartiers, in early 2025 for $136 million. The company aims to continue acquiring high-quality properties in key markets while strengthening its investment team​.

As part of its portfolio-optimization strategy, Chartwell is reviewing additional assets for potential sale due to factors such as location, age, and earnings potential​.

The company expects another year of strong financial growth, targeting 95% same-property occupancy by December 2025, driven by rental rate increases, improved operating margins, and lower interest costs​.

Mississauga, Ont.-based Chartwell ranks as Canada’s largest seniors home owner, investor and operator.

Pictured: Chartwell Carlton retirement residence in Burnaby, B.C.

Photo: Chartwell