Sienna Continues Platform Growth in Ontario and British Columbia

Core Insights - Sienna Senior Living Inc. has entered into a purchase agreement to acquire a retirement residence in the Greater Toronto Area for approximately $59.4 million, with an initial investment yield of about 5.75% [2][3] - The company has also completed acquisitions of partial interests in two majority-owned properties, totaling an investment of $79 million [1][3] - The acquisitions are expected to enhance the company's portfolio and market presence, with a focus on growth in familiar markets [3] Acquisition Details - The Bartlett, a 129-suite independent living retirement residence in Oshawa, Ontario, is being acquired for approximately $59.4 million, equating to $461,000 per suite, and is currently 97% occupied [2] - The acquisition will be financed through available cash and is subject to customary closing conditions, expected to close within 60 days [3] - Sienna has also completed the acquisition of a 22.8% interest in Glenmore Lodge for approximately $10.1 million, increasing its interest to 100% [6] - Additionally, a 10.9% interest in LaSalle Park was acquired for approximately $9.4 million, increasing the company's interest to 89.1% [6]