Chartwell partners with Fengate to buy 30% stake in Seasons retirement portfolio for $382.5 million

  • Chartwell entered joint venture with Fengate Asset Management to buy 30% stake in Seasons Retirement Communities portfolio of 23 seniors housing communities totaling 2,943 suites across Ontario, British Columbia, Alberta.
  • Purchase price for 30% interest set at CAD 382.5 million, implying CAD 1.28 billion at 100% ownership; funding to include assumption of about CAD 195.8 million of in-place mortgages, balance in cash.
  • Closing targeted by end of Q2 2026, subject to customary consents and regulatory approvals; current portfolio occupancy about 86%.
  • Chartwell to act as operations manager; Fengate to provide asset management services; agreement includes option for Chartwell to acquire additional 20% upon meeting milestones.


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