Chartwell Retirement Residences (TSX: CSH.UN) announced strategic investments totaling approximately $293 million to strengthen its presence in Quebec’s senior living sector. This includes the acquisition of Les Tours Angrignon in LaSalle, Montréal, for $88.5 million (approximately $197,000 per suite), a 449-suite, three-tower continuum of care complex. The property boasts a prime location near the Angrignon Metro, mall, and park, and will undergo upgrades to align with Chartwell’s standards. The transaction is expected to close in late Q3 2025. Legal advisors for the transaction were not disclosed in the announcement.

In Vaudreuil-Dorion, Chartwell and EMD-Batimo are co-investing $170 million to expand Chartwell Le Prescott by adding 247 suites (223 independent and 24 assisted living) and building Lib Vaudreuil-Dorion, a 187-suite apartment for active seniors 55+. Chartwell currently owns 85% of the existing residence and plans to acquire an additional 35% interest in the expansion upon stabilization. The expanded site is anticipated to open in fall 2026.

In Terrebonne, Chartwell will invest $34 million to add 91 independent living suites to Chartwell des Mille-Îles. The existing 226-suite residence, fully owned by Chartwell and 99% occupied, will benefit from the expansion set for completion in fall 2026.