Chartwell Retirement Residences (Chartwell), a company specializing in independent living, assisted living and long-term care residences, has announced plans to sell its U.S. business to joint venture partners HCP, Inc. and Brookdale Senior Living Inc. Subject to customary closing conditions, the U.S. division will be sold for $849-million U.S. in the third quarter of 2015.

According to the 2014 Multi-Family Real Estate Report from Colliers International, the total number of sales transactions in Ottawa’s multi-family sector grew 61.54 per cent last year, making it one of the most attractive rental markets in Canada. At the same time, the total dollar value of multi-family asset transactions rose 33 per cent, year-over-year.