On August 3, 2005, LREIT announced that it completed the acquisition of all outstanding shares of Riverside Terrace Inc. from TCRT Investments Inc.

Riverside Terrace Inc. owns Luther Riverside Terrace, a four-storey senior housing complex. The complex includes 157 independent living rental suites, consisting of 78 one-bedroom suites, 73 one-bedroom plus den suites, four two-bedroom suites and two guest suites. A 24 bed intermediate care home is also attached to the complex.

Luther Riverside Terrace is located along the scenic South Saskatchewan River on Saskatchewan Crescent in Saskatoon. The complex is professionally managed by LutherCare Communities, an organization with 50 years of experience in providing care, shelter and support for seniors.