Chartwell Seniors Housing REIT, in partnership with Health Care REIT, Inc., announced the acquisition of 42 Allegro retirement residences from five Maestro Retirement funds. The homes are located in Ontario, Québec, British Columbia and Alberta with 45 per cent of all homes located in Québec where Chartwell-Québec already has a strong presence. Chartwell is retaining the employees in each residence.
With over 186 homes in Canada, Chartwell has become the largest provider of seniors housing in the country, serving over 26,000 residents. Its headquarters are in Mississauga, Ont. with corporate offices in Montreal, and Vancouver. Health Care REIT is the third largest healthcare real estate trust in the United States and this is their first entry into the Canadian market. Chartwell will manage the homes directly.
“We see this as an opportunity to bring our vision of ‘Making People’s Lives Better’ to even more residents across Canada and is consistent with our commitment to expand our presence in the Canadian market,” said Brent Binions, president and CEO of Chartwell. “We want seniors and their families to know that the care and services they receive in a Chartwell home will make their lives happier, healthier and more meaningful. We strive every day in every home to live up to that commitment.”
The transaction includes the following homes in Québec:
- Les Belvederes de Lachine, Montréal
- Domaine des Trembles, Gatineau
- Faubourg Giffard, Québec City
- Jardins Laviolette, Trois-Rivières
- Le Wellesley, Montréal
- Manoir & Cours de l’Atrium, Québec City
- Manoir Archer, Québec City
- Manoir Bois-de-Boulogne, Montréal
- Manoir Pointe-aux-Trembles, Montréal
- Manoir St-Jérôme, St-Jérôme
- Residence des Écores, Laval
- Hôtellerie Harmonie, Boucherville
- Residence l’Ermitage, Drummondville
- Residence Notre-Dame, Victoriaville
- Villa Chicoutimi, Chicoutimi
- Villa de l’Estrie, Sherbrooke
- Villa Jonquière, Jonquiere
- Villa Rive-Sud, Longueuil
- Villa Saguenay, Chicoutimi