"Sunrise Senior Living REIT is looking to expand its Canadian property holdings beyond Ontario and British Columbia, with Montreal as its first target, its chief executive said Wednesday.
Doug MacLatchy said he believes the Canadian market for independent-living senior homes is underdeveloped, largely because "Canadians have tended to believe their health care story. "They don't think that they should go outside" existing government services, the CEO said in an interview after the company's inaugural annual general meeting.
Toronto-based Sunrise Real Estate Investment Trust completed its $220-million initial public offering in December, when it held 24 senior living centres across North America.
It was created by Sunrise Senior Living Inc., which is based in a suburb of Washington, D.C., but chose to form the REIT in Canada because of more favourable tax laws."
Comments