Chartwell Seniors Housing Real Estate Investment Trust is selling six properties in the United States for about $165.5-million.
Chartwell, which owns and operates housing communities for the elderly, has 1,221 independent-living suites in its six U.S. properties, the company said in a statement.
None of the properties are in Texas, Florida or Colorado, what Chartwell describes as its core operating area in the United States.
The deal is part of Chartwell's strategy to focus on the Canadian market, Chief Executive Brent Binions said.
"This transaction is fully in line with our stated strategy to concentrate our U.S. investments in our core states and to increasingly focus our resources and management on the strong, stable and growing Canadian market," said Binions.
Units of the company closed at C$8.80 on Friday on the Toronto Stock Exchange.
hartwell is a real estate investment trust which indirectly owns and operates a range of seniors housing communities from independent supportive living through assisted living to long-term care.