Chartwell Announces March Cash Distribution
MISSISSAUGA, ONTARIO -- Chartwell Seniors Housing Real Estate Investment Trust (TSX: CSH.UN) (“Chartwell REIT”) announced today a cash distribution of $0.08875 per Trust Unit for the month of March, 2007. The cash distribution will be payable on April 16, 2007 to Unitholders of record on March 30, 2007.
Unitholders can participate in Chartwell’s Unitholder Distribution Reinvestment Plan (DRIP). Eligible investors registered in the DRIP will have their monthly cash distributions used to purchase Trust Units, and will also receive bonus Units equal to 3% of their monthly cash distributions. The Plan offers Unitholders the opportunity to steadily increase their ownership in Chartwell REIT without incurring any commissions or brokerage fees. Complete details of the DRIP are available on Chartwell REIT’s website at www.chartwellreit.ca or from a Unitholder’s investment advisor.
Chartwell REIT is a growth-oriented investment trust owning and managing a complete spectrum of seniors housing communities. It is currently the largest participant in the Canadian seniors housing business with a growing presence in the United States. Chartwell will capitalize on the strong demographic trends present in its markets to grow internally and through accretive acquisitions. Chartwell REIT also has an exclusive option to purchase stabilized communities from Spectrum Seniors Housing Development LP, Canada’s largest and fastest growing seniors housing development company.
Certain statements contained in this news release may include forward-looking information with respect to Chartwell Seniors Housing Real Estate Investment Trust’s operations and future financial results. Such statements are based on current expectations, are subject to a number of uncertainties and risks, and actual results may differ materially from those contained in such statements. These uncertainties and risks include, but are not limited to, availability of resources, competitive pressures, changes in market activity and regulatory requirements. Further information can be found in the disclosure documents filed by Chartwell Seniors Housing Real Estate Investment Trust with the securities regulatory authorities, available at www.sedar.com.
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