VANCOUVER, BC, July 22, 2026 /CNW/ -- Prima Living, a division of Primacorp Ventures Inc., today announced the completion of its nearly $117,907,500 acquisition of nine communities in Ontario from Chartwell Retirement Residences, adding 689 units and bringing its total portfolio to 1,187 suites across Canada.
Achieved just 15 months after its first acquisition in Ontario, the transaction marks a major step in Prima Living's growth and comes at a time when demand for senior living continues to rise across Canada. The acquisition significantly expands Prima Living's presence in Ontario and strengthens its position as a growing operator in a market where new supply remains limited and many existing communities require renewal or reinvestment.
Prima Living is growing through a proven model, focused on making targeted investments in existing communities and strengthening services over time. In Ontario, the company has already demonstrated results in recently acquired communities, where occupancy increased from 45 per cent to 95 per cent following investments in programming, infrastructure and day-to-day operations.
"This is an important milestone for Prima Living and a clear reflection of our growth trajectory," said Najib Raie, President of Prima Living. "As demand for senior living continues to rise across Canada, residents and families need communities they can trust, with high-quality care, strong day-to-day support and an enhanced resident experience. With integrated pharmacy and medical services within our communities and the operational infrastructure to support growth, we are building a proven platform designed to serve more seniors with confidence and care."
"Ontario's seniors deserve access to safe, high-quality living options that support dignity, independence and quality of life," said Hon. Raymond Cho, Ontario's Minister for Seniors and Accessibility. "As demand for senior living continues to grow, this kind of continued investment by providers like Prima Living will help ensure older adults and their families have access to the vital supports they need."
The acquisition follows Prima Living's first asset acquisition of a facility in Pickering, ON in March 2025 and its October 2025 acquisition of two residences in Oakville and North York. With additional growth plans underway, the company continues to evaluate opportunities to expand its footprint through acquisitions, new developments and strategic partnerships.
About Prima Living
Prima Living is a leading Canadian senior living operator focused on inclusive, resident-centered care. Backed by the global infrastructure of Primacorp Ventures, Prima Living combines national scale with personalized boutique hospitality. For more information, visit www.primaliving.ca.
SOURCE Prima Living
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