Prima Living Buys 9 Senior Homes for C$118M, Eyes More

Prima Living announced its acquisition of nine senior housing properties, comprising 1,187 suites, from Chartwell Retirement Residences for C$118 million (approximately $83.7 million USD) this week. This strategic move significantly expands Prima Living's operational footprint in the senior housing sector.

The Canadian senior housing operator has expressed a clear intention to continue its growth trajectory through further acquisitions. Prima Living is also considering the possibility of accessing public markets as a means to fund its ongoing expansion initiatives. The company's strategy focuses on consolidating its position within the senior living industry by identifying and integrating new opportunities.

This latest transaction underscores Prima Living's commitment to expanding its portfolio and market share. The acquired properties from Chartwell Retirement Residences represent a substantial addition to Prima Living's existing assets, enhancing its capacity to serve a growing senior population. The company's leadership has indicated that this is part of a broader plan to scale its operations and potentially explore new avenues for capital raising to support future growth.