Sienna Completes Acquisition in Greater Ottawa Area

Executive Summary

• Sienna Senior Living Inc. has completed the acquisition of Rockland Manor, a 160-suite retirement residence in Rockland, Ontario.
• The transaction carries a gross purchase price of approximately $41.0 million, financed entirely through available cash on hand.
• The property, built in 2015, is 98% occupied and offers a full continuum of care from independent living to memory care, with an initial investment yield of approximately 6.0%.

Key Details

• Target Asset: Rockland Manor, a 160-suite retirement residence located in the Greater Ottawa Area.
• Gross Purchase Price: ~$41.0 million.
• Price Per Suite: $256,000.
• Initial Investment Yield: ~6.0%.
• Property Specifications: Constructed in 2015, currently 98% occupied, offering independent living, assisted living, and memory care services.
• Financing Structure: Funded entirely through available cash on hand.
• Strategic Rationale: Expands Sienna's footprint in Eastern Ontario, expected to generate meaningful synergies and support portfolio scaling in the region.

Notable Quotes

• Nitin Jain, President and Chief Executive Officer: "Given Sienna’s growing presence in the region, we expect the addition of Rockland Manor to support meaningful synergies as we continue to scale our portfolio in Eastern Ontario. We look forward to integrating this vibrant community into Sienna’s growing platform and welcoming its residents, families and team members."