Chartwell will sell off its Clair Hills retirement residence in Waterloo, Ontario, to get Competition Bureau Canada’s okay to acquire a six-building portfolio from Sifton Properties. The retirement residence operator’s recent agreement to divest alleviates concerns that the transaction could concentrate ownership of seniors accommodations in the Kitchener-Waterloo region.

“The sale will be made to an independent purchaser to be approved by the Commissioner of Competition,” a newly released statement from the Competition Bureau announces. “The Bureau is satisfied that the sale will resolve the competition concerns that could result from the proposed transaction.”

In addition to the Waterloo property, the Sifton portfolio is comprised of three seniors residences in London, Ontario along with one in the nearby rural community of Dorchester and one in Mississauga, Ontario. Chartwell’s results for the second quarter of 2025 report the pending acquisition as a $432-million deal for a total of 1,024 suites and 29 townhomes under construction.

Chartwell’s year-end 2025 results, released in late February, confirm that it has entered into a definitive agreement to sell a non-core property in Ontario for $49 million, with the closing expected in the first quarter of 2026.