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State: 17.08.2024 | 11PM
Thu, 08.08.2024       Chartwell Retirement
CA16141A1030

MISSISSAUGA, ON, Aug. 8, 2024 /CNW/ - Chartwell Retirement Residences ("Chartwell") (TSX: CSH.UN) announced today its results for the three and six months ended June 30, 2024.

Q2 2024 Highlights 

Resident revenue increased by $21.4 million from Q2 2023.Net loss was $2.8 million compared to $7.5 million in Q2 2023.Funds from Operations ("FFO")(1) up 45.3% from Q2 2023.Same property adjusted net operating income ("NOI")(1) up 20.6% from Q2 2023.Same property adjusted operating margin(1) up 280 basis points ("bps") from Q2 2023.Weighted average same property occupancy up 660 bps from Q2 2023 and expected to grow to 88.7% by September 2024.
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