Canadian REIT completes acquisition of 11 U.S. SNFs.Toronto-based CPL Long Term Care Real Estate Investment Trust completed its agreement to acquire 11 nursing homes in Vermont, Connecticut, and New Hampshire New Hampshire, one of the New England states of the NE United States. It is bordered by Massachusetts (S), Vermont, with the Connecticut R. forming the boundary (W), the Canadian province of Quebec (NW), and Maine and a short strip of the Atlantic Ocean (E). representing total capacity of 1,354, for $76 million. The REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). has acquired an 80 percent ownership position in the centers through a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. . The remaining 20 percent is held by the U.S. management team, CPL Subacute LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , which will continue to operate the properties. CPL is the largest owner and operator of long term care facilities in Canada, with 75 facilities totaling 10,215 resident capacity. |
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