Mr. Vlad Volodarski reports

CHARTWELL ANNOUNCES ISSUANCE OF $200 MILLION OF 3.786% SERIES A SENIOR UNSECURED DEBENTURES

Chartwell Retirement Residences Real Estate Investment Trust has agreed to issue $200-million aggregate principal amount of Series A senior unsecured debentures. The debentures will bear interest at a rate of 3.786 per cent per annum and will mature on Dec. 11, 2023. The debentures will be unconditionally guaranteed by Chartwell Master Care LP. The debentures are being offered on a reasonable best efforts agency basis by a syndicate of agents co-led by CIBC Capital Markets and BMO Capital Markets, with CIBC Capital Markets acting as sole bookrunner. The offering is expected to close on or about June 9, 2017, subject to satisfaction of customary closing conditions. DBRS Ltd. 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 assigns a final rating to the debentures of BBB (low) with a stable trend.

Chartwell intends to use the net proceeds from this offering to finance a portion of the purchase price of the previously announced acquisitions of three retirement residences in Ontario, for potential future acquisitions, to repay a portion of existing indebtedness under Chartwell's new credit facilities and for general trust purposes.

The offering is being made by way of a private placement to accredited investors in the province of Alberta and pursuant to the minimum amount investment exemption in each of the other provinces of Canada.

About Chartwell Retirement Residences Real Estate Investment Trust

Chartwell is an unincorporated, open-ended trust which indirectly owns and operates a complete range of seniors housing communities from independent supportive living through assisted living to long-term care. It is the largest owner and operator of seniors residences in Canada.

We seek Safe Harbor.