Chartwell Retirement Residences announced it entered into a definitive agreement to acquire Rosemont Les Quartiers, a CCRC in the Rosemont-La Petite-Patrie neighborhood of Montreal, for US$94.36 million, or US$149,000 per unit. The transaction is structured with US$90.2 million to be paid at closing and a deferred payment of US$4.16 million to be paid in three years. Closing is expected to occur Q1 2025.
Rosement Les Quartiers is a phased project comprising 10, seven and six-story connected buildings on a 4.26 acre lot just east of downtown Montreal. Completed between 2016 and 2019, it offers 632 rental units catering to a range of preferences and care types.
