Chartwell Seniors Housing REIT Completes Public Offering

On August 6, 2004 Chartwell Seniors Housing Real Estate Investment Trust (the REIT) completed a public offering of 6,250,000 trust units at $11.25 per unit for gross proceeds of $70,312,500. The offering was completed by way of a short form prospectus and was underwritten by a syndicate of underwriters led by RBC Dominion Securities Inc. The proceeds of the offering will be used to complete the acquisition of certain seniors housing facilities, to fund mezzanine loans to Spectrum Seniors Housing Development LP and Spectrum's joint venture partners, and to repay indebtedness outstanding under its bank facilities.

The REIT was represented by Borden Ladner Gervais, with a team led by Paul Mingay and including Gordon Raman, Dyana McLellan and Julie Mansi (corporate/securities), Craig Webster (tax) and Murray Shopiro, Alan Sless and Jenette Boycott (real estate).

The underwriters were represented by Osler, Hoskin & Harcourt, with a team led by Chris Murray, and including David Surat and Ali Kermalli (corporate), Tim Schumacher (real estate) and Judith Harris (tax).


Abbasali (Ali) Y. Kermalli