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MISSISSAUGA, ON, Feb. 27, 2025 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today its results for the fourth quarter and year ended December 31, 2024.
HighlightsResident revenue increased by $38.5 million or 21.4% in Q4 2024 compared to Q4 2023.Net income was $3.5 million in Q4 2024 compared to net loss of $13.2 million in Q4 2023.Funds from operations ("FFO")(1) up 46.9% from Q4 2023.Same property adjusted net operating income ("NOI")(1) up 14.4% from Q4 2023.Same property adjusted operating margin(1) up 150 basis points ("bps") to 37.2% from Q4 2023.Weighted average same property occupancy up 510 bps to 90.1% from Q4 2023.MISSISSAUGA, ON, Feb. 18, 2025 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today a cash distribution of $0.051 per Trust Unit. The cash distribution will be payable on March 17, 2025 to unitholders of record on February 28, 2025.
Unitholders can participate in Chartwell's Distribution Reinvestment Plan ("DRIP"). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units and will also receive bonus units equal to 3% of their monthly cash distributions. DRIP offers unitholders the opportunity to steadily increase their ownership in Chartwell without incurring any commission or brokerage fees. Complete details of the DRIP are available on Chartwell's website at https://investors.chartwell.com or from a unitholder's investment advisor.
This news release constitutes a "designated news release" for the purposes of Chartwell Retirement Residences' prospectus supplement dated November 14, 2024 to its short form base shelf prospectus dated April 30, 2024.
MISSISSAUGA, ON, Feb. 3, 2025 /CNW/ - Chartwell Retirement Residences (TSX: CSH.UN) ("Chartwell") announced the closing of its transaction with Welltower Inc. ("Welltower"). As part of the transaction, Chartwell conveyed its interests in 23 co-owned residences (4,633 suites) to Welltower with management of these and two other managed properties (314 suites) transferred to a third-party manager ("Cogir") in exchange for cash and Welltower's interests in 16 residences (3,511 suites), all on terms consistent with those previously disclosed. Chartwell and Cogir worked collaboratively over an extended period of time to effect a smooth transition for the residents and employees of the 25 residences for which Cogir assumed management responsibilities.
MISSISSAUGA, ON, Jan. 17, 2025 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) will issue its financial results for the three months and year ended December 31, 2024, on the afternoon of February 27, 2025. A conference call and webcast will be hosted by Chartwell on Friday, February 28, 2025, at 10:00 AM ET to discuss these results.
The telephone numbers to participate in the conference call are:Local: 416-340-2217Toll Free: 1-800-806-5484Passcode: 5540514#Please dial in at least 15 minutes before the call commences to register your participation in the Q&A. A slide presentation to accompany management's comments during the conference call will be available on the Investor Relations section of Chartwell's website. To access the presentation, please visit https://investors.chartwell.com/press-market-information/presentations-conference-calls.
MISSISSAUGA, ON, Jan. 15, 2025 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today a cash distribution of $0.051 per Trust Unit. The cash distribution will be payable on February 18, 2025 to unitholders of record on January 31, 2025.
Unitholders can participate in Chartwell's Distribution Reinvestment Plan ("DRIP"). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units and will also receive bonus units equal to 3% of their monthly cash distributions. DRIP offers unitholders the opportunity to steadily increase their ownership in Chartwell without incurring any commission or brokerage fees. Complete details of the DRIP are available on Chartwell's website at https://investors.chartwell.com or from a unitholder's investment advisor.
MISSISSAUGA, ON, January 6, 2025 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announces the appointment of Alka Gautam, CPA,CA, ICD.D to the Board of Directors.
Ms. Gautam brings to Chartwell expertise in leadership, operations, finance and risk management at the C-suite level of a Fortune 500 company, having spent over 20 years with Reinsurance Group of America ("RGA"), most recently as the Executive Vice President Global Operations, RGA and President and Chief Executive Officer of RGA Canada. Previously she held positions of Chief Financial and Chief Risk Officer of RGA Canada. She retired from RGA in 2023 and currently serves on the Board of Directors of iA Financial Corporation (TSX:IAG). Ms. Gautam is a qualified financial expert and holds CPA, CA Canada and ICD.D designations.
MISSISSAUGA, ON, Dec. 16, 2024 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today a cash distribution of $0.051 per Trust Unit. The cash distribution will be payable on January 15, 2025 to unitholders of record on December 31, 2024.
Unitholders can participate in Chartwell's Distribution Reinvestment Plan ("DRIP"). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units and will also receive bonus units equal to 3% of their monthly cash distributions. DRIP offers unitholders the opportunity to steadily increase their ownership in Chartwell without incurring any commission or brokerage fees. Complete details of the DRIP are available on Chartwell's website at https://investors.chartwell.com or from a unitholder's investment advisor.
MISSISSAUGA, ON, Nov. 15, 2024 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today a cash distribution of $0.051 per Trust Unit. The cash distribution will be payable on December 16, 2024 to unitholders of record on November 29, 2024.
Unitholders can participate in Chartwell's Distribution Reinvestment Plan ("DRIP"). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units and will also receive bonus units equal to 3% of their monthly cash distributions. DRIP offers unitholders the opportunity to steadily increase their ownership in Chartwell without incurring any commission or brokerage fees. Complete details of the DRIP are available on Chartwell's website at https://investors.chartwell.com or from a unitholder's investment advisor.
MISSISSAUGA, ON, Nov. 14, 2024 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today its results for the three and nine months ended September 30, 2024.
Q3 2024 Highlights
Resident revenue increased by $34.6 million from Q3 2023.Net income was $23.6 million compared to $158.2 million in Q3 2023 that included the gain on sale of $178.9 million due to the sale of the Ontario Long Term Care platform ("OLTC Platform")(4).Funds from Operations ("FFO")(1) up 43.2% from Q3 2023.Same property adjusted net operating income ("NOI")(1) up 17.1% from Q3 2023.Same property adjusted operating margin(1) up 200 basis points ("bps") from Q3 2023.Weighted average same property occupancy up 610 bps from Q3 2023 and expected to grow to 90.2% by December 2024./NOT FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
MISSISSAUGA, ON, Oct. 21, 2024 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today that it has agreed to issue $150 million aggregate principal amount of Series D senior unsecured debentures (the "Debentures"). The Debentures will bear interest at a rate of 4.400% per annum and will mature on November 5, 2029. The Debentures will be unconditionally guaranteed by Chartwell Master Care LP. The Debentures are being offered on an agency basis by a syndicate of agents led by TD Securities Inc., BMO Capital Markets and CIBC Capital Markets as joint bookrunners. The offering is expected to close on October 28, 2024, subject to satisfaction of customary closing conditions. DBRS Limited has assigned a provisional rating of "BBB (low)" with a "Stable" trend to the Debentures. It is a condition to the closing of the offering that DBRS Limited assigns a final rating to the Debentures of "BBB (low)" with a "Stable" trend.