Mr. Jonathan Boulakia reports

CHARTWELL EXPANDS IN ALBERTA WITH ACQUISITION OF MODERN BOUTIQUE RESIDENCE

Chartwell Retirement Residences Real Estate Investment Trust will strategically acquire The Edward, a modern boutique retirement residence offering independent living in a desirable Calgary neighbourhood.

"The acquisition of The Edward is a strategic expansion for Chartwell in Calgary, a vibrant and sought-after market for seniors housing," said Jonathan Boulakia, Chartwell's chief investment officer. "This upscale boutique residence is thoughtfully designed for active, independent older adults and supports our strategy of acquiring modern, high-quality residences that support long-term value creation. We are pleased to add The Edward to our growing portfolio in Western Canada."

Built in 2019, The Edward is a prestigious five-storey boutique residence located in Calgary's desirable Marda Loop, adjacent to the arts district and cSPACE King Edward. The residence consists of 90 private-pay, independent living suites and features a creative arts studio, rooftop garden, luxury chauffeur service, and resort-style spaces and amenities, all inspired by the arts. Current occupancy stands at approximately 86 per cent.

The purchase price of $53-million before closing and capital adjustments (approximately $589,000 per suite) is being financed with cash on hand. The expected closing date is Dec. 1, 2025.

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 range of seniors housing communities from independent living through to assisted living and long-term care. Chartwell is one of the largest operators in Canada, serving approximately 25,000 residents in four provinces across the country.

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