Extendicare Real Estate Investment Trust
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Extendicare Real Estate Investment Trust is a REIT that provides long term care facilities -- nursing homes -- to senior citizens. It trades on the Toronto Stock Exchange under the ticker symbol EXE.UN.
Extendicare, Inc was founded in 1968 with the name Pendexcare Ltd. It converted to a REIT November 10, 2006. Its wholly owned subsidiary, Assisted Living Concepts, Inc (New York Stock Exchange ticker symbol ALC) was distributed to REIT unitholders.
Extendicare Real Estate Investment Trust Operates in U.S. As Well
Extendicare has a wholly owned subsidiary that operates 181 facilities in the United States -- Extendicare Health Services, Inc (EHSI). It has another wholly owned subsidiary in the United States -- Virtual Care Provider, Inc -- which provides information technology services to long term care providers.
In Canada, Extendicare operates through its wholly owned subsidiary Extendicare Canada, Inc. (ECI), and has 83 senior care facilities with over 11,000 beds. It also has a home health care provider in Canada, ParaMed Home Health Care.
Corporate headquarters are in Markham Ontario. Timothy L. Lukenda is President and Chief Executive Officer. Mel Rhinelander is Chairman of the Board of Directors.
Therefore, Extendicare Real Estate Investment Trust is well-positioned to profit from the baby boomer generation becoming elderly, in both the United States and Canada.
Next: Firm Capital Mortgage Investment Trust -- Canada's only REIT dedicated to real estate financing
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