01:51 PM EDT, 07/14/2025 (MT Newswires) -- Chartwell Retirement Residences (CSH-UN.TO) on Monday said it bought Les Tours Angrignon, a well-established continuum of care residence in Montreal for $88.5 million, and two new development projects in the Vaudreuil-Dorion and Terrebonne communities.

The company said its purchase price implies a cost of near $197,000 per suite. It plans to invest in suite and common area upgrades and expects the deal to close in late third quarter.

In Vaudreuil-Dorion, the company and development partner EMD-Batimo are advancing a $170 million expansion of Chartwell Le Prescott and expects to buy 35% ownership interest in the 247-unit retirement residence expansion once it reaches "stabilization."

In Terrebonne, Chartwell is expanding the recently acquired $34 million project, Chartwell des Mille-lles with the addition of 91 new independent living suites, scheduled for completion in fall 2026.

Shares of the company were last seen up $0.09 to $18.45 on the Toronto Stock Exchange.

Price: 18.43, Change: +0.07, Percent Change: +0.38