Chartwell Seniors Housing REIT

Chartwell Seniors Housing REIT

September 14, 2007 13:21 ET

Update on Review of Strategic Alternatives From Chartwell Seniors Housing REIT

MISSISSAUGA, ONTARIO--(Marketwire - Sept. 14, 2007) - As part of the on-going review by the Special Committee of Chartwell Seniors Housing Real Estate Investment Trust (TSX:CSH.UN) of its strategic alternatives resulting from the changes to federal income taxation of publicly traded income trusts, Chartwell had previously made certain information available under confidentiality agreements to certain third parties in connection with the exploration of a potential sale or other strategic transaction. Chartwell is not currently in discussions with any third parties in connection with a potential sale. The Special Committee will continue its review of all of its strategic alternatives including a potential sale in the future, although there can be no assurance that this will result in any specific action.

Chartwell is a growth-oriented investment trust owning and managing a complete spectrum of seniors housing communities. It is the largest participant in the Canadian seniors housing business and the third largest in North America. Chartwell will capitalize on the strong demographic trends present in its markets to grow internally and through accretive acquisitions. Chartwell also has an exclusive option to purchase stabilized communities from Spectrum, Canada's largest and fastest growing seniors housing development company.

Contact Information

  • Chartwell Seniors Housing REIT
    Stephen Suske
    Vice Chair and Co-CEO
    (905) 501-4701
    (905) 501-9107 (FAX)