Sunrise Senior Living, McLean, Va., said it is forming a real estate investment trust in Canada to own and invest in senior-living properties in both Canada and the U.S. After an initial public offering, the new company will acquire 23 communities from Sunrise and its joint-venture partners. Sunrise said the establishment of the investment trust was included in its 2004 fourth-quarter guidance. The guidance projected earnings per share of 52 cents to 56 cents, a 30% to 40% increase from the 2003 quarter. -- by Joseph Mantone
Sunrise to form senior-living investment trust
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