Chartwell Retirement Residences

Chartwell Retirement Residences

Chartwell Retirement Residences

Overview
Date Founded

2003

Headquarters

100 Milverton Drive, Suite 700, Mississauga, ON, L5R 4H1, CAN

Type of Company

Public

Employees (Worldwide)

13.5K

Industries

Real Estate
Real Estate Investment Trusts

Company Description

Chartwell Retirement Residences is a real estate investment trust, which engages in the ownership and operation of a range of seniors housing communities from independent supportive living through assisted living to long term care. It opeartes through Retirement Operations; and Long Term Care Operations segments. The Retirement Operations segment gives services to age-qualified residents at rates, in most cases, set by Chartwell based on the services provided and market conditions. The Long Term Operations segment provides long term care communities. The company was founded on July 7, 2003 and is headquartered in Mississauga, Canada.

In The News
News Bites Canadian Markets
July 17, 2018
Rises on below average volumes
News Bites Canadian Markets
July 17, 2018
Chartwell tackles myths about retirement living
News Bites Canadian Markets
June 30, 2018
Chartwell Second Quarter 2018 Results and Conference Call
Executives & Employees

President & Chief Executive Officer

Chief Financial Officer & Chief Investment Officer

Chief Operating Officer

Secretary & Chief Legal Officer

Chief Administrative Officer

Director

Vice President-Real Estate Finance

Vice President-Marketing & Communications

Board of Directors

President & Chief Executive Officer at Chartwell Retirement Residences

Director at Chartwell Retirement Residences

Founding Partner at Butterfield & Robinson Management Services, Inc.

Former President & Chief Executive Officer at SmartCentres Real Estate Investment Trust

Consultant at SECOR, Inc. (Canada)

Former Partner at Ryegate Capital Corp.

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Owners & Shareholders
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Lincluden Investment Management (LIM) employs traditional, value-based investment principles across a range of equity, fixed-income and balanced portfolios. The firm offers a clearly defined investment philosophy and approach to portfolio construction in the following areas: equities, fixed-income, balanced and value.For their equity investments, LIM screens a broad universe of Canadian, US and international stocks in the search for undervalued securities. Investment decisions are based on a thorough financial assessment of corporations and their management teams to identify securities that are trading at a substantial discount to LIM's appraisal of their fair value. Their focus on cash flow in determining a company's valuation is based on the belief that free cash flow is the best currency to enable a company to grow.LIM's fixed-income portfolios are structured to achieve the most efficient combination of duration, credit, yield curve and foreign exposure from a long-term, risk-reward perspective. The firm's investment process begins with an economic overview, which allows them to develop a view on inflation. Based on their view of value and risk, they then determine the appropriate portfolio duration which reflects their long-term view of inflationary trends relative to the current level of interest rates and shape of the yield curve. LIM believes that real interest rates should be calculated using long-term inflationary expectations instead of the current rate of inflation. In searching for the best value opportunities in fixed-income markets, the firm considers both domestic and foreign securities. When they find better value opportunities in foreign markets, their preference is to eliminate foreign exchange risk through the use of hedging.The firm's balanced approach seeks to create long-term wealth with a value-based, risk-managed approach that is based on disciplined asset allocation and security selection. LIM's valuation and portfolio structuring process incorporates a 'top-down' approach to determine asset mix, and a 'bottom-up' process to individual security selection.

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Middlefield Capital Corp. focuses on the underwriting and selling of securities including common shares, preferred shares, partnership units and debt instruments.

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Connor, Clark & Lunn Private Capital's (CCL) Canadian Core Equities portfolio is comprised of publicly-traded Canadian stocks. The firm looks for companies with strong balance sheets, predictable growth and reasonable prices using a GARP style. The portfolio typically holds 30 to 40 stocks.Their Canadian Value Equities portfolio consists of Canadian stocks selected with a value style. They focus on companies with attractive prices in relation to their fundamental earnings outlook. Stocks are selected if their underlying value is not yet reflected in the stock's price. The portfolio typically holds 25 to 30 stocks.For their Canadian Small-Cap portfolio, CCL utilizes a growth investment style. The portfolio typically holds 50 to 75 stocks.CCL's Global Small-Cap Equities portfolio invests in non-Canadian small-cap companies that are selected using a core investment style. The portfolio typically holds between 40 and 60 stocks.The firm's International Equities portfolio is a concentrated portfolio of securities from the developed stocks markets outside North America. They employ a growth approach to identify companies that are attractively priced and are expected to deliver increased cash earnings. The portfolio typically holds up to 50 stocks.For US Equities, CCL builds a concentrated portfolio of large-cap US stocks. They use a value approach to identify companies that are attractively priced and are expected deliver increased cash earnings. The portfolio typically contains up to 50 stocks.CCL selects corporate and government bonds to maximize long-term return while protecting capital in times of rising interest rates. Their fixed-income investment process also incorporates active credit analysis of corporate bonds and allows for up to 100% commitment to the corporate bond market depending on market conditions.The firm's Canadian or US Money Market portfolio is a portfolio of high-quality short-term debt securities that seeks to provide safety of principal and liquidity. The term of the securities is less than 1 year and varies based on CCL's view of the interest rate environment. High-quality corporate issues are also included when priced attractively. Both strategies are employed to increase current yield while maintaining a focus on quality and liquidity.CCL's Short-Term Bond portfolio is a diversified portfolio of high-quality short-term fixed-income securities that seeks to maximize short-term return while protecting capital in times of rising interest rates. The investment process also incorporates active credit analysis of corporate bonds and allows for up to 100% commitment to the corporate bond market depending on market conditions.

Recent Transactions
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Chartwell Retirement Residences issued Trust Units

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Chartwell Retirement Residences purchases Lakeshore Place Retirement Residence

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Chartwell Retirement Residences purchases Stillwater Creek Retirement Community

Transaction Advisors
Accountant

Advised onChartwell Retirement Residences purchases Castel Royale

Lead Manager

Advised onChartwell Retirement Residences issued Trust Units

Auditor

Advised onChartwell Retirement Residences issued Trust Units

Legal Advisor

Advised onHCP, Inc., Brookdale Senior Living, Inc. purchase CSH Master Care USA, Inc. from Chartwell Retirement Residences

Advisors & Consultants
Legal Advisor

Partner at Borden Ladner Gervais LLP

Legal Advisor

Partner at Skadden, Arps, Slate, Meagher & Flom LLP

Legal Advisor

Partner at Borden Ladner Gervais LLP

Key Stats and Financials As of 2017
Market Capitalization
$3.28B
Total Enterprise Value
$5.2B
Earnings Per Share
$0.06
Revenue
$800M
Net Profit
$13.1M
EBITDA
$239M
EBITDAMargin
29.84%
Total Debt
$1.81B
Total Equity
$1.02B
Enterprise Value Sales
6.5x
Enterprise Value EBITDAOperating
21.77x
TEVNet Income
397.34x
Debt TEV
0.35x
Five Year Compounded Annual Growth Rate Of Revenue
-1.96%
Three Year Compounded Annual Growth Rate Of Revenue
-2.57%