Chartwell Investing $284.5M in Seniors Home Acquisition, Expansion Projects

Chartwell Investing $284.5M in Seniors Home Acquisition, Expansion Projects
News| July 14, 2025| Monte Stewart
Canada + Senior Housing

Chartwell Retirement Residences is expanding its footprint in Quebec with a $284.5-million total investment that includes the acquisition of a major seniors home in Montreal and two development projects in the city’s Vaudreuil-Dorion borough and Terrebonne, Que., suburb.

The company has agreed to acquire Les Tours Angrignon in LaSalle for $88.5 million. The three-tower residence comprises 449 suites and offers a mix of independent and assisted living accommodations.

The company did not identify the seller of the Vaudreuil-Dorion property in a news release, but Cogir was known to be the previous operator. The complex’s employees will move to Chartwell.

“This residence is exceptionally located next to the Angrignon Metro, mall, and park, offering residents direct access to transit, shopping, and green space right outside their door,” said Jonathan Boulakia, Chartwell’s chief investment officer. “It also benefits from high occupancy and a stable operating history. We look forward to welcoming the residents and employees to Chartwell.”

Chartwell plans to upgrade suites and common areas to align the property with its brand standards. The deal is expected to close in late Q3 2025.

In Vaudreuil-Dorion, Chartwell and development partner EMD-Batimo are moving forward with a $170 million expansion of Chartwell Le Prescott. The project will add 247 suites and a new 187-suite seniors’ apartment building for active adults aged 55 and up. Chartwell owns 50% of the project and expects to increase its stake in the retirement residence to 85% after stabilization.

In Terrebonne, Chartwell is investing $34 million to add 91 suites to the Chartwell des Mille-Îles residence, bringing the total to 317. Completion is expected in fall 2026.

“These investments reflect our commitment to develop new properties in strategic locations that are highly attractive to seniors and support strong returns and long-term value creation,” said Boulakia.

Pictured: Seniors complex in Montreal acquired by Chartwell.

Photo: Cogir

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