trending Market Intelligence /marketintelligence/en/news-insights/trending/ggNk5ktoMfhQ5SyxUiedhw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Chartwell discloses property transactions, secures C$125M term loan commitment

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate CRE Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Segment

IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help


Chartwell discloses property transactions, secures C$125M term loan commitment

Chartwell Retirement Residences closed its purchase of the Chartwell Emerald Hills Retirement Residence in Edmonton, Alberta, for C$120.0 million and secured a C$125.0 million unsecured term loan commitment due May 2024 with a Canadian chartered bank.

The 256-suite retirement residence is 45% occupied, including 72 suites funded by Alberta Health Services. The transaction is subject to a two-year C$7.5 million net operating income guarantee from the vendor to support the initial lease-up.

The term loan will carry interest at the bankers' acceptance rate, plus 145 basis points. It has a fixed rate via an interest rate swap arrangement with an effective interest rate of about 3.52%.

The Canadian healthcare facility operator will use proceeds from the term loan to repay the amounts outstanding on its credit facility.

Additionally, Chartwell and Batimo Inc. wrapped up the sale of a medical office building in Ste. Eustache, Quebec, for C$10.8 million. The REIT holds an 85% stake in the property.

A head lease was signed with the buyer for certain spaces in the Quebec building from Dec. 2, 2020, to April 30, 2022, with maximum financial exposure to the sellers of C$500,000.