The Canadian PressOctober 28, 2013 06:47
MISSISSAUGA, Ont. - Chartwell Retirement Residences (TSX:CSH.UN) has acquired a 138-suite residence in Mission, B.C., for $27 million, the real estate trust announced Monday.
Cedarbrooke Chateau, built in 2009 and 73 per cent occupied, is Chartwell's second retirement residence in Mission, a Fraser Valley community with a population of about 34,500.
Chartwell says it expects "strong operational synergies" with the existing 126-suite Chartwell Carrington House Retirement Residence but didn't provide details in its announcement.