ElderTrust Announces New Lease of Woodbridge Facility.Business Editors KENNETT SQUARE, Pa.--(BUSINESS WIRE)--Feb. 5, 2002 ElderTrust (NYSE NYSE See: New York Stock Exchange :ETT ETT Empresa de Trabajo Temporal (Spain) ETT European Transactions on Telecommunications ETT Exercise Treadmill Test ETT Embedded Training Team ETT Exercise Tolerance Test (cardiology) ; the "Company"), an equity healthcare REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). , announced today that it has entered into a new lease and purchase option agreement with respect to the Woodbridge facility. The Woodbridge is an assisted living as·sist·ed living n. A living arrangement in which people with special needs, especially older people with disabilities, reside in a facility that provides help with everyday tasks such as bathing, dressing, and taking medication. facility previously leased to an affiliate of Senior LifeChoice LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The new tenant is an affiliate of Newton Senior Living LLC of Andover, MA. "Newton Senior Living is an excellent organization and we are excited to have this opportunity to work with them on this property." said D. Lee McCreary, Jr., ElderTrust's President and Chief Executive Officer. "Our agreement with Newton is a win-win that allows each of us to share in this important housing sector's recovery." ElderTrust is a real estate investment trust that invests in real estate properties used in the healthcare services industry, principally along the East Coast of the United States The "Eastern Seaboard," or "Atlantic Seaboard" are terms referring to the easternmost coastal states in the United States. They touch the Atlantic Ocean and stretch up to Canada. . Since commencing operations in January 1998, the Company has acquired direct and indirect interests in 32 buildings. Certain matters discussed within this press release may be deemed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Although ElderTrust believes the expectations reflected in such forward-looking statements are reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from ElderTrust's expectations include the extent to which Genesis continues to make lease payments to the Company, the Company's ability to further extend or refinance its Bank Credit Facility when it matures in August 2002, real estate conditions, changes in the economic conditions and other risks detailed from time to time in the Company's SEC reports and filings. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events. For more information on ElderTrust visit ElderTrust's Web site at www.eldertrust.com |
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