Chartwell Seniors Housing Real Estate Investment Trust is selling six properties in the United States for about $165.5-million (U.S.) , including outstanding mortgages.
Chartwell said Monday that the sale to Facility Holdings LP involves properties with an aggregate 1,221 independent living suites.
None of the properties are in Texas, Florida or Colorado, what Chartwell describes as its core operating area in the United States.
The sale price includes the assumption by Facility Holdings of existing mortgages with an aggregate outstanding balance of about $106.8-million, Chartwell said.
The deal, subject to regulatory and lender consents, is expected to close in the fourth quarter.
“This transaction is fully in line with our stated strategy to concentrate our U.S. investments in our core states and to increasingly focus our resources and management on the strong, stable and growing Canadian market,” said Chartwell president and CEO Brent Binions.
Chartwell is a real estate investment trust which indirectly owns and operates a range of seniors housing communities from independent supportive living through assisted living to long-term care.