MISSISSAUGA, Ont. — Chartwell Retirement Residences has signed a deal to buy a retirement residence complex in Montreal for $136 million.
Under the deal, Chartwell will acquire Rosemont Les Quartiers, which includes several connected buildings, just east of downtown Montreal.
The deal includes a total of 632 rental suites that offer a range of preferences and care needs.
Under the agreement, Chartwell will pay $130 million at closing and make a deferred payment of $6 million in three years.
The sale is expected to close in the first quarter of this year.
Chartwell is one of the Canada's largest operators of retirement homes.
This report by The Canadian Press was first published Jan. 30, 2025.
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The Canadian Press