Chartwell Seniors to sell six U.S. properties for $165 million

Mon Jun 18, 2012 8:46am EDT
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(Reuters) - Canada's Chartwell Seniors Housing REIT (CSH_u.TO: Quote) will sell six of its properties in the United States to Harvest Facility Holdings LP for $165.5 million.

Chartwell, which owns and operates housing communities for the elderly, has 1,221 independent-living suites in its six U.S. properties, the company said in a statement.

The deal is part of Chartwell's strategy to focus on the Canadian market, Chief Executive Brent Binions said.

Units of the company closed at C$8.80 on Friday on the Toronto Stock Exchange.

(Reporting by Shounak Dasgupta in Bangalore; Editing by Supriya Kurane)