Chartwell Seniors Housing Completes Public Offering and Entry into the US

On May 9, 2006, Chartwell Seniors Housing Real Estate Investment Trust (the REIT) completed a public offering of 13,310,000 trust units at a price of $13.90 per unit for gross proceeds of $185,009,000. The offering was completed on a bought-deal basis and was underwritten by a syndicate of underwriters led by RBC Dominion Securities Inc. The proceeds of the offering will be used to fund certain acquisitions of seniors housing facilities in the US, Ontario, Quebec and British Columbia, to fund mezzanine loans to Spectrum Seniors Housing Development LP, to fund facility expansion projects and to repay indebtedness outstanding under the REIT's operating facility.
The REIT was represented by Borden Ladner Gervais LLP on the offering with a team led by Paul Mingay that included Gordon Raman, Dyana McLellan and Paul Simon (corporate/securities) and Craig Webster (tax).
The underwriters were represented by Osler, Hoskin & Harcourt LLP with a team led by Chris Murray that included David Hanick and Julie Cordeiro (corporate); Kim Wharram (Canadian tax) and Paul Seraganian (US tax).

Lawyer(s)

Paul Seraganian David Hanick Christopher S. Murray Gordon G. Raman Craig J. Webster Kimberly J. Wharram Julie Cordeiro Dyana E. McLellan Paul A. Simon Paul A.D. Mingay