Chartwell Seniors Housing REIT is a real estate investment trust

Real estate investment trust

A real estate investment trust or REIT is a tax designation for a corporate entity investing in real estate. The purpose of this designation is to reduce or eliminate corporate tax. In return, REITs are required to distribute 90% of their taxable income into the hands of investors...

 in Canada that was founded in 2003. It operates seniors housing

Retirement home

A retirement home is a multi-residence housing facility intended for senior citizens. Typically each person or couple in the home has an apartment-style room or suite of rooms. Additional facilities are provided within the building, including facilities for meals, gathering, recreation, and some...

properties in Canada and the United States. The company owns a total of 188 facilities with 22,481 suites as of June 1, 2007. Of these facilities, managed homes are not included and neither are the many properties under current development. Chartwell REIT is Canada's largest seniors housing REIT. http://tsedb.theglobeandmail.com/servlet/WireFeedRedirect?cf=GlobeInvestor/tsx/config&date=20060228&archive=ccnm&slug=0228057n