our history.
Our history traces back to a single personal care home in Winnipeg, Manitoba that opened in 1961. It was named for the park it overlooked. As Central Park Lodges (“CPL”), the business grew to include a number of privately owned nursing and retirement residences.
Since our quiet beginning, we have worked to become a leading provider of seniors’ services, in both Canada and the United States.
Key milestones in our history:
- In 1969, CPL was acquired by Trizec Corporation.
- In September of 1994, CPL was sold by Trizec Corporation. At that time, our business consisted of 14 retirement residences and 11 long term care homes located in five provinces across Canada, along with a home health care business. In May of 1997, our long term care business went public on the Toronto Stock Exchange (“TSX”) as CPL Long Term Care REIT. By the end of 2000, we were the largest nursing home operator in Ontario.
- In July of 1998, CPL REIT began expanding into the United States, with the acquisition of two skilled nursing centers in Washington State. Since that time, we have grown to over 40 U.S. centers.
- In April of 2001, our retirement and home health care businesses also went public on the TSX as Retirement Residences Real Estate Investment Trust (“Retirement Residences REIT”). In 2002, Retirement Residences REIT acquired CPL REIT and combined the two organizations.
- In January of 2007, Public Sector Pension Investment Board acquired Retirement Residences REIT. Retirement Residences REIT was delisted from the TSX in April, 2007.
- In March of 2008, Retirement Residences REIT completed a corporate rebranding to become Revera Inc.