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Article: Chartwell REIT Announces Significant Growth in Second Quarter

Article from:
CCNMatthews Newswire
Article date:
August 11, 2005
Copyright

MISSISSAUGA, ONTARIO--(CCNMatthews - Aug. 11, 2005) -

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

- Owned property portfolio increased ...

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