This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: Card issuing platform Marqeta appointed Stripe alum Patti Kangwankij to the role of CFO, effective Feb. 9, with the goal of aiding the business by enhancing profitability and driving growth, according to a Wednesday press release and securities filing. The appointment comes several months after the Oakland, California-based company announced it was beginnin ...

Core Viewpoint - Sienna Senior Living Inc. has announced the acquisition of Credit River Retirement Residence for $60.2 million, which is expected to enhance its presence in the Greater Toronto Area and provide immediate financial benefits to the company [1][3][4]. Acquisition Details - The acquisition involves a 133-suite retirement residence with 84 independent living, 25 assisted living, and 24 memory care units located in Streetsville, Ontario [1]. - The property, built in 2016, features amenities such as health and fitness facilities, a movie theatre, multiple dining rooms, and an outdoor terrace [2]. - The current occupancy rate is 90%, with expectations to stabilize at 95% within the first year post-acquisition [2]. Financial Aspects - The gross purchase price for the acquisition is $60.2 million, with an initial investment yield of 5.75% [3]. - The company plans to finance the acquisition entirely through its credit facilities and anticipates that the transaction will be immediately accretive to its AFFO per share [4]. Strategic Fit - The acquisition is seen as a strategic fit for Sienna, leveraging synergies with existing properties in the Greater Toronto Area, which is a highly sought-after market [4]. - The company expects minimal incremental general and administrative costs due to its substantial presence in the region [4].