Sienna Senior completes LaSalle interest acquisition

Executive Summary

• Sienna Senior Living Inc. has completed the acquisition of a 78.2% interest in LaSalle Park, a senior living property in Burlington, Ontario (Greater Toronto Area).
• The transaction involves a gross purchase price of approximately $67.2 million, financed through the assumption of ~$26.7 million in debt and the remainder via cash on hand.
• The acquisition adds to Sienna's portfolio growth in 2025, with plans to acquire the remaining 21.8% interest in two future tranches (10.9% in Jan 2026 and the final 10.9% in five years).

Key Details

• Target Asset: LaSalle Park, located in Burlington, Ont. (suburb of the Greater Toronto Area).
• Property Specifications: Built in 2013; 97% occupied; consists of 92 independent living units and 31 assisted living units.
• Transaction Structure:
  • Acquired 78.2% interest initially.
  • Remaining interest to be acquired in two tranches: 10.9% in January 2026 and the final 10.9% in five years.
• Financials:
  • Gross purchase price: ~$67.2 million.
  • Initial investment yield: ~5.70%.
  • Financing: Assumption of ~$26.7 million in debt; balance paid from cash on hand.
• Strategic Context: This is Sienna's third high-quality acquisition in the GTA in 2025. The company states it has added over $800 million of assets to its portfolio in 2025.

Notable Quotes

• "This marks Sienna's third high-quality acquisition in the Greater Toronto Area in 2025, a key market where we already have a significant presence and continue to build scale," said Nitin Jain, president and chief executive officer. "With this latest acquisition, we have added over $800-million of assets to our portfolio this year, generating strong growth momentum we expect to carry forward into 2026."