BRIEF-Chartwell buys retirement residence in Midland, Ontario

Thu Jul 28, 2016 7:47am EDT
 
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July 28 (Reuters) - Chartwell Retirement Residences :

* Chartwell announces acquisition of a modern retirement residence in Midland, Ontario

* Aggregate purchase price of $31.5 million

* Purchase price will be settled in cash,

* Entered into a definitive agreement to acquire 121-suite tiffin house retirement residence in Midland, Ontario

* Chartwell estimates that, upon stabilization, acquisition will generate an unlevered yield of 7.6% Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)