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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549



                                    FORM 8-K


                                 CURRENT REPORT

     Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


        Date of Report (date of earliest event reported): October 6, 1999




                         ALTERRA HEALTHCARE CORPORATION
             (Exact name of registrant as specified in its charter)



          DELAWARE                        1-11999                39-1771281
(State or other jurisdiction of    (Commission file number)   (I.R.S. Employer
incorporation or organization)                               Identification No.)





                        450 N. SUNNYSLOPE ROAD, SUITE 300
                           BROOKFIELD, WISCONSIN 53005
                    (Address of principal executive offices)

                                 (414) 789-9565
              (Registrant's telephone number, including area code)


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ITEM 5.  OTHER EVENTS

         On October 6, 1999, the Registrant issued a press release announcing
that it has completed the acquisition of eight additional residences from Manor
Care, Inc. (the "Press Release"), a copy of which is filed as an exhibit hereto.
The text of the Press Release is incorporated herein by this reference.


ITEM 7.  EXHIBITS

         99.1 Press release dated October 6, 1999


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                                   SIGNATURES

         Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.


Dated:  October 19, 1999


                           ALTERRA HEALTHCARE CORPORATION
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                                   (Registrant)


                           By: /s/ Thomas E. Komula
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                               Thomas E. Komula, Senior Vice President,
                               Chief Financial Officer, Treasurer and Secretary



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                                  EXHIBIT INDEX


99.1     Press Release dated October 6, 1999.