This press release is designated as such according to Chartwell Retirement Residences’ prospectus supplement dated November 14, 2024 and its short form base shelf prospectus dated April 30, 2024.

MISSISSAUGA, ON, Feb. 3, 2025 – Chartwell Retirement Residences (TSX: CSH.UN) (“Chartwell”) today confirms the completion of its transaction with Welltower Inc. (“Welltower”). The deal involved Chartwell transferring its stake in 23 jointly owned residences (4,633 suites) to Welltower. Management of these, along with two other managed properties (314 suites), has been transitioned to Cogir, a third-party manager. In return, Chartwell received cash and Welltower’s interest in 16 residences (3,511 suites). These terms align with prior announcements. Chartwell and Cogir collaborated extensively to ensure a smooth transition for residents and employees at the 25 residences now under Cogir’s management.

Chartwell CEO, Vlad Volodarski, expressed gratitude to the employees of the 25 properties transferring to Welltower for their past contributions and wished them continued success under new management. He also thanked the residents for their trust and extended best wishes to the Cogir team for continued operational success.

ABOUT CHARTWELL

Chartwell is dedicated to serving and caring for Canada’s senior population, striving to enhance residents’ lives by providing happier, healthier, and more fulfilling living experiences. Chartwell, an unincorporated, open-ended real estate trust, owns and operates a diverse range of senior housing communities, encompassing independent living, assisted living, and long-term care. As one of Canada’s largest operators, Chartwell serves over 25,000 residents across four provinces. For more information, please visit .

For more information, please contact:

Chartwell Retirement Residences
Vlad Volodarski
Chief Executive Officer
Tel:  905-501-4709
Email:  

SOURCE Chartwell Retirement Residences (IR)