Sienna Senior Living Completes Second Acquisition in Ottawa in 2025

Core Viewpoint - Sienna Senior Living Inc. has completed the acquisition of Hazeldean Gardens Retirement Residence for $85.25 million, which is expected to enhance the company's growth through operational synergies and improve occupancy rates in the Ottawa market [1][3][4]. Group 1: Acquisition Details - The acquisition includes a 172-suite retirement residence with 129 independent living, 31 assisted living, and 12 memory care units located in Stittsville, Ontario [1]. - The total purchase price of $85.25 million includes a performance-based payment of $3.75 million and an additional contingent payment of $1.25 million [3]. - The acquisition is financed through a combination of cash on hand and credit facilities, and is expected to be immediately accretive to the company's AFFO per share [3]. Group 2: Financial Metrics - The acquisition was completed at a significant discount to replacement cost, with an initial investment yield of 6.33% before accounting for internal synergies [4]. - The expected investment yield in the first year following the acquisition is projected to be 6.8% [4]. Group 3: Market Context - The residence is anticipated to reach a stabilized occupancy of 95% within the next 12 months, supported by improving supply-demand fundamentals in the Ottawa market [2]. - Sienna has completed over $340 million in acquisitions in 2025, indicating an active strategy in the acquisition market to scale its business [3].