Sienna Senior completes acquisition of Cawthra Gardens

Executive Summary

• Sienna Senior Living Inc. completed the purchase of Cawthra Gardens, a 192‑bed Class A long‑term care home in Mississauga, Ontario, for a total consideration of $32.6 million.
• The acquisition was funded with general corporate cash and reflects a 6.75% capitalization rate; it is expected to be immediately accretive to AFFO per share.
• The deal brings Sienna’s cumulative acquisitions in 2025 to over $430 million, supporting its growth strategy across the senior‑care continuum.

Key Details

• Target Property: Cawthra Gardens, Mississauga, ON – 192 beds, Class A long‑term care facility.
• Purchase Price: $32.6 million total, inclusive of a $2.0 million capital allowance earmarked for use within the next 12 months.
• Financing: Entirely financed through Sienna’s general corporate funds (no external debt or equity issuance).
• Cap Rate: Transaction priced at a 6.75% capitalization rate.
• AFFO Impact: Management expects immediate accretion to adjusted funds from operations (AFFO) per share.
• Strategic Context: Acquisition adds to $430 million of total acquisitions made by Sienna in 2025, spanning independent living, assisted living, memory care, and long‑term care. Combined with $220 million of completed development projects, the expansion underscores the company’s diversified growth strategy.

Notable Quotes

• “With this most recent acquisition, we have added over $430 million in acquisitions to date in 2025… Combined with $220 million of completed development projects, these additions exemplify Sienna's growth strategy,” – Nitin Jain, President & CEO.
• “We believe that our diversified approach … not only enhances our ability to serve seniors across all stages of care, but adds to the financial strength of our business.” – Nitin Jain.