(Reuters) - Canada’s Chartwell Seniors Housing REIT (CSH_u.TO) 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