|By Marketwired .||
|January 11, 2013 04:21 PM EST||
MISSISSAUGA, ONTARIO -- (Marketwire) -- 01/11/13 -- Chartwell Seniors Housing Real Estate Investment Trust (TSX:CSH.UN) ("Chartwell") announced today it has changed its name to "Chartwell Retirement Residences" effective immediately. Chartwell will continue to trade on the TSX as 'CSH.UN'. The change is timed to coincide with the rebranding of the 42 retirement residences Chartwell acquired with Health Care REIT (HCN) in May, 2012.
"We believe that our new visual identity better reflects our brand promise and our evolution as a customer focused service provider," commented Brent Binions, President and CEO.
The new name makes way for a more consistent translation in French to Chartwell Residences Pour Retraites. In Ontario, long term care communities will be branded distinctively as Chartwell Long Term Care Residences. Chartwell residences will begin reflecting the new name and logo as part of a national roll-out strategy throughout 2013.
Chartwell indirectly owns and operates a complete range of residences from independent supportive living through assisted living to long term care. It is one of the largest participants in the seniors housing business in North America. Chartwell's aim is to capitalize on the strong demographic trends present in its markets to maximize the value of its existing portfolio of retirement residences, and prudently avail itself of opportunities to grow internally and through accretive acquisitions.
Chartwell's Distribution Reinvestment Plan ("DRIP") allows Unitholders to have their monthly cash distributions used to purchase units without incurring commission or brokerage fees, and receive bonus units equal to 3% of their monthly cash distributions. More information can be obtained at www.chartwell.com.
This press release contains forward-looking information that reflects the current expectations, estimates and projections of management about the future results, performance, achievements, prospects or opportunities for Chartwell and the seniors housing industry. The words "plans", "expects", "does not expect", "is expected", "budget", "scheduled", "estimates", "intends", "anticipates", "does not anticipate", "projects", "believes" or variations of such words and phrases or statements to the effect that certain actions, events or results "may", "will", "could", "would", "might", "occur", "be achieved" or "continue" and similar expressions identify forward-looking statements. Forward-looking statements are based upon a number of assumptions and are subject to a number of known and unknown risks and uncertainties, many of which are beyond our control, and that could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking statements.
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