Welltower winds down joint venture with Chartwell

Goodmans LLP acted for Welltower Inc. in connection to the winding down of its 11-year joint venture with Mississauga-based Chartwell Retirement Residences, which has seen them partner on the ownership of 40 Canadian retirement residences comprising 8,476 suites. 

Chartwell conveyed its interests in 23 co-owned residences to Welltower with management of these and two other managed properties transferred to Cogir as third-party manager in exchange for cash and Welltower's interests in 16 residences.

Homes involved in the transaction were concentrated in Ontario and Quebec, with others in British Columbia and Alberta.