SUNRISE SENIOR LIVING REAL ESTATE INVESTMENT TRUST
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Name change date
Sunrise Senior Living Real Estate Investment Trust (Sunrise REIT), based in Toronto, Canada, is an open-ended real estate investment trust. Sunrise REIT was incorporated in 2004, to indirectly acquire, own and invest in income-producing senior living communities in major metropolitan markets and their surrounding suburban areas in Canada and the United States. Sunrise REIT also indirectly acquires interests in newly developed senior living communities through development and financing arrangements with Sunrise Senior Living, Inc., one of the largest providers of senior-living services in North America.
Sunrise REIT owns, develops and operates assisted living facilities throughout North America. As of December 2006, Sunrise REIT indirectly owned 72 income-producing assisted living facility communities with an aggregate resident capacity of 6,905. Of these communities, 11 communities with an aggregate resident capacity of 1,077 are located in Canada and 61 communities with an aggregate resident capacity of 5,826 are located in the United States.
Sunrise REIT also provides senior living facility management services with operations in the United States, Canada, the United Kingdom and Germany. As of April 2007, Sunrise REIT owned two properties in the United States that were under development with a resident capacity of 182. Each community is managed pursuant to a long-term management agreement with Sunrise Senior Living, Inc.
The REIT is an unincorporated open-ended real estate investment trust.
Description and history
Sunrise Senior Living REIT (the REIT) is an unincorporated open ended real estate investment trust established under the laws of the Province of Ontario, formed to acquire and own income producing senior living communities. The REIT owns a portfolio of 24 premium senior living communities located in major metropolitan markets in Canada and the U.S. Sunrise Senior Living, Inc. (Sunrise) is a publicly traded company listed on the New York Stock Exchange under the symbol SRZ. All of the REIT’s communities are managed by Sunrise, one of the providers of senior living services in North America. All communities feature Sunrise’s award-winning architecture and high-quality interior designs, all intended to enhance the quality of life for each resident. The objectives of the REIT are to provide unitholders with stable and growing monthly cash distributions from its portfolio of income-producing properties and to enhance the long-term value of the REIT’ s assets and maximize unit value. The REIT trades on the Toronto Stock Exchange under the symbol (SZR.UN). The REIT was formed on 13, August, 2004 and the units of the REIT were listed on the Toronto Stock Exchange on 22, December, 2004.
Effective April 26, 2007, the Trust was acquired by Ventas, Inc., and was delisted from the Toronto Stock Exchange on May 3, 2007.
Incorporated to indirectly acquire, own and invest in income-producing senior living communities in major metropolitan markets and their surrounding suburban areas in Canada and the United States
An open-ended real estate investment trust
ERNST & YOUNG LLP
US SIC Code
11, King Street West
City province or state postal code
M5H 4C7, TORONTO, ON
Phone: +1 416 644 4954
Fax: +1 416 644 4959
Country address: CANADA
Website url: www.sunrisereit.com