M&A / Property
Sienna Completes Acquisition in the Greater Toronto Area
SIA · Price
Executive Summary
- Sienna Senior Living completed the acquisition of a 78.2% interest in LaSalle Park (Burlington, Ontario) for approximately $67.2 million.
- The purchase was financed by assuming ~$26.7 million of debt and using cash on hand for the balance.
- This marks Sienna’s third GTA acquisition in 2025, bringing total portfolio additions to ≈ $812.7 million in assets for the year and supporting a growth trajectory into 2026.
Key Details
- Acquired Interest: 78.2% of LaSalle Park; additional 10.9% expected Jan 2026, final 10.9% within five years.
- Purchase Price: Approximately $67.2 million (gross).
- Financing Structure:
- Debt assumption: ~$26.7 million.
- Cash contribution: remainder of purchase price.
- Property Profile: Built 2013; 97% occupancy; 92 independent‑living units + 31 assisted‑living units (total 123 beds/suites).
- Initial Investment Yield: Approximately 5.70%.
- 2025 Portfolio Expansion Summary (selected):
| Property | Year Built | Location | Beds/Suites | Purchase Price ($M) | Investment Yield (%) |
|---|---|---|---|---|---|
| Nicola Lodge / LTC | 2016 | Greater Vancouver | 256 | 26.5 | 6.75 |
| Alberta Portfolio / LTC | 2022/23 | Alberta (multiple cities) | 540 | 181.6 | 6.50 |
| Wildpine / Retirement | 2019 | Ottawa | 165 | 48.0 | 6.25 |
| Hazeldean Gardens / Retirement | 2018 | Ottawa | 172 | 85.3 | 6.33 |
| Credit River / Retirement | 2016 | GTA | 133 | 60.2 | 5.75 |
| Cawthra Gardens / LTC | 2003 | GTA | 192 | 32.6 | 6.75 |
| Hygate / Retirement | 2021 | Waterloo | 216 | 93.3 | 6.00 |
| LaSalle Park / Retirement | 2013 | GTA | 123 | 67.2 | 5.70 |
| Total Acquisitions (2025) | – | – | – | $594.7 | – |
| Northern Heights | 2025 | North Bay | 160 | 78.0 | 8.00 |
| Brants Landing / Oakwood Commons | 2025 | Brantford | 147 / 160 | 140.0 | 8.50 |
| Total Developments (2025) | – | – | – | $218.0 | – |
| Overall Portfolio Expansion (2025) | – | – | – | $812.7 | – |
- Strategic Rationale: Enhances Sienna’s presence in the Greater Toronto Area, adds over $800 million of assets acquired in 2025, and supports continued scale‑building momentum into 2026.
Notable Quotes
“This marks Sienna’s third high‑quality acquisition in the Greater Toronto Area in 2025… we have added over $800 million of assets to our portfolio this year, generating strong growth momentum we expect to carry forward into 2026.” – Nitin Jain, President & CEO.
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Jun 26, 2026 · 08:30