PR Newswire
This news release constitutes a "designated news release" for the purposes of Chartwell Retirement Residences' prospectus supplement dated November 14, 2024 to its short form base shelf prospectus dated April 30, 2024.
MISSISSAUGA, ON, Feb. 3, 2025 /CNW/ - Chartwell Retirement Residences (TSX: CSH.UN) ("Chartwell") announced the closing of its transaction with Welltower Inc. ("Welltower"). As part of the transaction, Chartwell conveyed its interests in 23 co-owned residences (4,633 suites) to Welltower with management of these and two other managed properties (314 suites) transferred to a third-party manager ("Cogir") in exchange for cash and Welltower's interests in 16 residences (3,511 suites), all on terms consistent with those previously disclosed. Chartwell and Cogir worked collaboratively over an extended period of time to effect a smooth transition for the residents and employees of the 25 residences for which Cogir assumed management responsibilities.
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