Mr. Vlad Volodarski reports

CHARTWELL COMPLETES ACQUISITION OF SIX ONTARIO RETIREMENT COMMUNITIES

Chartwell Retirement Residences Real Estate Investment Trust has closed its previously announced acquisition of a portfolio of six senior housing communities totalling 1,024 suites across London, Waterloo and Mississauga for a total purchase price of $432-million.

The acquired portfolio expands Chartwell's presence in Southwestern Ontario, one of Canada's most dynamic and growing seniors housing markets, and aligns with the organization's strategy of investing in newer, high-quality, purpose-built communities in core markets.

"This closing marks an important milestone in executing our disciplined growth strategy," said Jonathan Boulakia, chief investment officer. "We are pleased to complete this acquisition and integrate a portfolio of modern, well-located communities that enhance our platform. These assets offer strong operational fundamentals and future growth potential, including expansion opportunities such as the future excess land at Erinview in Mississauga and the development of townhomes, currently in construction, at Dorchester Terrace in Dorchester."

"We are pleased to welcome residents and team members from these communities into the Chartwell family," said Vlad Volodarski, chief executive officer. "This acquisition reinforces our commitment to serving Canada's seniors with high-quality living environments and supports our objectives of sustainable growth, operational excellence and delivering meaningful experiences for our residents."

The portfolio consists of six purpose-built seniors communities offering a mix of independent living suites, apartments and townhouses, all operating on a private pay basis:

• Riverstone, London (built in 2021 and 2023) -- 124 retirement suites and 135 seniors apartments and townhouses, part of a net-zero campus with extensive solar infrastructure;
• Richmond Woods, London (built in 2007 and 2010) -- 130 retirement suites and 112 seniors apartments and townhouses with extensive community amenities;
• Longworth, London (built in 2001) -- 126 retirement suites located in a highly sought-after residential neighbourhood with significant greenspace;
• Dorchester Terrace, Dorchester (built in 2017) -- 123 retirement suites, along with 29 townhouses currently under development and expected to be completed in fourth quarter 2026;
• Westhill, Waterloo (built in 2012 and 2018) -- 117 retirement suites and 100 seniors apartments in a growing urban market;
• Erinview, Mississauga (built in 2019) -- 57 retirement suites with future excess land that provides the potential to develop approximately 140 new suites in the future.

The purchase price at closing totalled approximately $416.2-million, with an additional $15.8-million payable upon completion of the Dorchester Terrace townhouses expected in fourth quarter 2026. The transaction was financed through the assumption of approximately $232.7-million of in-place debt, the majority of which is Canada Mortgage and Housing Corp. insured, and cash on hand.

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is in the business of serving and caring for Canada's seniors, committed to its vision of making people's lives better and to providing a happier, healthier and more fulfilling life experience for its residents. Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities from independent living through to assisted living and long-term care. Chartwell is one of the largest operators in Canada, serving approximately 25,000 residents in four provinces across the country.

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