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TORONTO-Chartwell Seniors Housing REIT is set to buy a C$850-million ($756-million) portfolio in North America that will make it Canada’s largest owner and operator of seniors-housing facilities. The deal will make Chartwell Canada’s largest owner and operator of seniors housing facilities.

The transactions will be financed partially by issuing 10.8 million new trust units at C$14 each and by C$125 million of convertible debentures, Chartwell says in a statement. “There are acquisitions in all of our operating platforms, and we could easily absorb these and integrate them right across Canada and the United States,” president Stephen Suske says.

“We raised C$150 million of equity at C$14 so it’s actually trading above the issue price, which is a good sign,” comments chief executive Robert Ezer.Through a joint venture, it will invest in five Long Island, NY properties purchased from US-based Bristal for a total of $290.5 million. It will also acquire six retirement facilities in Ontario, Quebec and British Columbia and announced contracts to manage two other BC facilities.

When the transactions close, Chartwell officials say 69% of its portfolio would be in Canada and 31% would be in the US. The company will then have interests in about 34,000 suites.

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