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Article: Chartwell REIT Announces Significant Growth in Second Quarter.
- Article from:
- Business Wire
- Article date:
- August 11, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MISSISSAUGA, Ontario -- B.C. and U.S. Acquisitions to Accelerate Growth Profile
Chartwell Seniors Housing Real Estate Investment Trust (TSX:CSH.UN) announced today results for the three and six months ended June 30, 2005.
SECOND QUARTER HIGHLIGHTS:
- Revenues rise 72% from Q2, 2004 from accretive acquisitions, increased mezzanine financing and higher third-party management fees
- Same property revenues up 4.4% in quarter and 7.0% through first six months of 2005 due to higher occupancies, new services and annual rent increases
- Distributable Income increased by 93% and Funds from Operations increased by 109% from Q2, 2004 ...