Chartwell closes $382.5 million purchase of 30% stake in Seasons Retirement Communities portfolio

  • Chartwell Holdings announced the closing of a 30% stake in Fengate’s Seasons Retirement Communities portfolio via a joint venture.
  • Deal valued Chartwell’s interest at $382.5 million, implying a $1.275 billion portfolio value at 100% ownership.
  • Funding included assumption of about $208.8 million of mortgages, weighted-average 4.48% interest, 4.08 years to maturity; balance paid in cash.
  • Portfolio includes 23 seniors housing communities with 2,943 suites across Ontario, British Columbia, Alberta; occupancy about 86%.
  • Chartwell to manage operations; option to lift ownership by 20% on milestones; Palermo Village acquisition expected June 3 for $43 million.


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