2100 Bloor Street West Limited Partnership Enters Into Agreement of Purchase and Sale for Retirement Residence Project

TORONTO, ONTARIO--(Marketwired - July 6, 2015) - 582958 Ontario Limited (the "General Partner"), the general partner of 2100 Bloor Street West Limited Partnership (the "Partnership") today announced it has entered into a binding agreement with Chartwell Master Care LP ("Chartwell") to sell the retirement residence project and the related commercial office/retail component (the "Project") owned by the Partnership to Chartwell. Subject to the satisfaction of customary terms and conditions, the transaction will close on or about July 31, 2015.

Following completion of the sale of the Project, the General Partner will pay any outstanding liabilities of the Partnership out of the proceeds of sale, including paying any costs involved in the sale of the Project and all expenses incurred in the winding-up of the Partnership, and establish any reserves as the General Partner considers necessary for contingent liabilities. The General Partner will then distribute the remaining balance of the Partnership's assets in cash as a capital payment to the limited partners of record on the date of dissolution proportionate to the number of units of the Partnership held by them, in accordance with the sharing ratio set forth in the Limited Partnership Agreement.