Chartwell Retirement (TSE:CSH.UN) has released an update.
Chartwell Retirement Residences experienced a significant increase in resident revenue by $9.5 million in Q4 2023, though faced a net loss of $13.2 million for the same period. Nevertheless, the company saw a substantial rise in Funds from Operations, with a 41.4% increase in continuing operations and a 21.5% increase in same property adjusted net operating income. Occupancy rates also improved, hitting 84.1% in Q4 and are expected to further increase to 85.7% by April 2024.
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