Mr. Jeffrey Brown reports
CHARTWELL ANNOUNCES JANUARY 2024 DISTRIBUTION AND PROVIDES OCCUPANCY UPDATE
Chartwell Retirement Residences Real Estate Investment Trust has declared a cash distribution of 5.1 cents per trust unit. The cash distribution will be payable on Feb. 15,
2024, to unitholders of record on Jan. 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 per cent of their monthly cash distributions. The 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, or from a unitholder's investment adviser.
Same-property occupancy update
In 2023, Chartwell's same-property permanent move-in activity exceeded the same periods in 2022 and the three-year
prepandemic average by 14 per cent and 15 per cent, respectively. Chartwell expects to achieve continued occupancy growth in 2024
and beyond, driven by the successful execution of its operating, marketing and sales strategies, and supported by
strong demand resulting from accelerating demographic growth, shortages of long-term-care beds and fewer senior
housing construction starts.
About Chartwell Retirement Residences Real Estate Investment Trust
Chartwell is in the business of serving and caring for Canada's seniors, committed to its vision of making people's lives better and to providing a happier, healthier and more-fulfilling life experience for its residents. Chartwell is an unincorporated, open-ended real estate trust which indirectly owns and operates a complete range of seniors housing communities, from independent living through to assisted living and long-term care. Chartwell is the largest operator in Canada, serving over 25,000 residents in four provinces across the country.
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