Chartwell Retirement Residences (CSH-UN-T) is acquiring a 449-suite seniors living and care residence in Montreal for $88.5 million, and is developing or expanding two other facilities in Quebec as the province remains a key focus of growth for the company.

The acquisition involves Les Tours Angrignon, a large facility comprising three towers in the LaSalle area in Greater Montreal. The two new development projects are in the growing communities of Vaudreuil-Dorion and Terrebonne. 

In LaSalle, Chartwell has a definitive agreement to acquire full ownership of Les Tours Angrignon, which offers a mix of independent and assisted living accommodations. The purchase price represents approximately $197,000 per suite.

It has been previously operated by Cogir.

"We are pleased to expand our presence in the Montreal market with the acquisition of Les Tours Angrignon," Jonathan Boulakia, Chartwell's chief investment officer, said in the announcement Monday morning. "This residence is exceptionally located next to the Angrignon Metro, mall and park, offering residents direct access to transit, shopping and green space right outside their door. 

“It also benefits from high occupancy and a stable operating history."

Chartwell plans to invest in suite and common area upgrades to align the property with its brand standards, supporting long-term value creation. Closing is expected to occur in late Q3 2025.

Chartwell's two new developments

In Vaudreuil-Dorion, Chartwell and development partner EMD-Batimo are advancing a $170-million expansion of Chartwell Le Prescott. The project includes a 247-suite addition to the existing residence (comprised of 223 independent living suites and 24 assisted living suites) and the development of Lib Vaudreuil-Dorion, a 187-suite seniors' apartment building tailored to active, independent 55-plus adults. 

The project is owned 50 per cent by Chartwell and 50 per cent by EMD-Batimo, a developer and construction firm based in the Greater Montreal community of Boisbriand.

Chartwell owns an 85 per cent interest in the existing facility, which includes 324 independent living suites and is 97 per cent occupied.

The development group will provide Chartwell with a three-year occupancy support. Chartwell expects to acquire an incremental 35 per cent ownership interest in the 247-unit retirement residence expansion upon stabilization.

Chartwell Le Prescott is located near local shops, restaurants and medical services. The expansion will provide more choice and flexibility to meet the evolving needs of seniors in the region. Occupancy is expected in fall 2026.

In Terrebonne, Chartwell is expanding the recently acquired Chartwell des Mille-Îles with 91 new independent living suites, a $34-million project scheduled for completion in fall 2026. The existing residence, which includes 226 suites and is 100 per cent owned by Chartwell, is 99 per cent occupied.

"These investments reflect our commitment to develop new properties in strategic locations that are highly attractive to seniors and support strong returns and long-term value creation," Boulakia said.

About Chartwell

Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a range of seniors housing communities, from independent living through to assisted living and long-term care. 

It has been on a growth spree during the past 13 months, acquiring well over $1 billion in properties, while also forwarding several development projects.

Based in Mississauga, Chartwell is one of the largest operators in Canada. It now owns and operates over 170 facilities serving approximately 25,000 residents in four provinces across the country.