Upstart Prima Living Acquires Nine Seniors Homes from Chartwell for $117.9M

Upstart Prima Living Acquires Nine Seniors Homes from Chartwell for $117.9M
News| July 22, 2026| Monte Stewart
Canada + Apartment Buildings

Prima Living has acquired nine Ontario seniors homes from Chartwell for $117.9 million, marking the upstart company’s third purchase in only 15 months of existence.

The portfolio acquisition gives Prima, a division of Primacorp Ventures, an additional adding 689 units, increasing its Canadian portfolio to 1,187 suites.

The purchase significantly expands the company’s presence in the province as demand for senior living continues to grow, said Prima. The company said the transaction strengthens its position in a market where new supply remains limited and many existing communities require renewal or reinvestment.

Prima expanding by investing in existing retirement communities and enhancing services over time. In previously acquired Ontario communities, occupancy increased from 45% to 95% following investments in programming, infrastructure and daily operations, said the company.

“This is an important milestone for Prima Living and a clear reflection of our growth trajectory,” said Najib Raie, CEO of Prima Living. “As demand for senior living continues to rise across Canada, residents and families need communities they can trust, with high-quality care, strong day-to-day support and an enhanced resident experience. With integrated pharmacy and medical services within our communities and the operational infrastructure to support growth, we are building a proven platform designed to serve more seniors with confidence and care.”

Two of the acquired properties are located in the Greater Toronto Area cities of Aurora, Ont., and Whitby, Ont. The remaining seven are located in the secondary markets of Belleville, Ont.; Brockville, Ont.; Renfrew, Ont.; Sudbury, Ont.; Morrisburg, Ont.; and Pemroke, Ont.

“Ontario’s seniors deserve access to safe, high-quality living options that support dignity, independence and quality of life,” said Raymond Cho, Ontario’s seniors and accessi. “As demand for senior living continues to grow, this kind of continued investment by providers like Prima Living will help ensure older adults and their families have access to the vital supports they need.”

The acquisition follows Prima’s purchase of a retirement residence in Pickering, Ont., in March 2025 and two additional residences in Oakville and North York in October 2025. The company said it continues to evaluate opportunities to expand through acquisitions, new developments and strategic partnerships.

Pictured: Prima Living’s newly acquired Colonial retirement home in Whitby, Ont.

Photo: Courtesy of Prima Living

Other News

JLL Arranges Financing for Lightstone Acquisition on Upper West Side

New York & Tri-State + Apartment Buildings

JLL Capital Markets arranged acquisition financing for Lightstone’s purchase of 323 W. 96th St., a 174-unit multifamily property on Manhattan’s Upper West Side. Senior managing director Peter Rotchford and managing director Michael Shmuely worked on behalf of Lightstone to secure the financing from MF1, a wholly owned subsidiary of Berkshire Residential Investments. Lightstone is acquiring...

Learn more

National City Investment Group Commences Workforce Housing Build

California & West + Apartment Buildings

The National City Investment Group, a locally owned, privately held real estate investment company, recently broke ground on Market View, a 120-unit multifamily residential community located at 303 Highland Ave. in National City. The development will transform an underutilized parking lot adjacent to Manolo Farmers Market, which has served National City for more than 33...

Learn more

Levin Johnston Closes Apartment Sale in One of San Jose’s Strongest Submarkets

California & West + Apartment Buildings

 Levin Johnston of Marcus & Millichap recently completed the sale of First Street Manor, a 39-unit apartment community in San Jose. Executive managing directors Adam Levin and Robert Johnston, along with senior director, investments Cole Simpson, represented the seller and procured the buyer in the $9.112-million transaction. The Levin Johnston team demonstrated the asset’s upside...

Learn more
New call-to-action

Brokers

View All

Lenders

View All

Management

View All
Login
or
Sign up