Mr. Vlad Volodarski reports

CHARTWELL ANNOUNCES CLOSING OF $269.5 MILLION TRUST UNIT OFFERING

Chartwell Retirement Residences Real Estate Investment Trust has closed its previously announced public offering of 17,732,000 trust units, inclusive of 1,612,000 trust units issued pursuant to the exercise in full of the overallotment option, at a price of $15.20 per trust unit for total gross proceeds of approximately $269.5-million. The financing was completed on a bought deal basis through a syndicate of investment dealers led by RBC Capital Markets and BMO Capital Markets.

Chartwell intends to use the net proceeds from the financing to finance a portion of the purchase price for four retirement communities in the greater Edmonton area, Alberta, and to partially repay its secured revolving credit facility, as described in greater detail under the heading "use of proceeds" in Chartwell's prospectus supplement dated Nov. 17, 2017, available on SEDAR.

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 supported living through assisted living to long-term care. It is the largest owner and operator of seniors residences in Canada. Chartwell's aim is to capitalize on the strong demographic trends present in its markets to maximize the value of its existing portfolio of retirement residences, and prudently avail itself of opportunities to grow internally and through accretive acquisitions.

We seek Safe Harbor.