Sienna Continues Platform Growth in Ontario and British Columbia

Executive Summary

• Sienna Senior Living entered a purchase agreement to acquire The Bartlett, a 129‑suite independent living residence in Oshawa, Ontario for approximately $59.4 million.
• The company also completed partial‑interest acquisitions in two majority‑owned properties—22.8% of Glenmore Lodge (BC) and 10.9% of LaSalle Park (ON)—bringing total investment to about $79 million.
• All transactions are being financed primarily with cash on hand, subject to customary closing conditions, and are expected to enhance scale in key markets.

Key Details

• The Bartlett Acquisition – Purchase price ≈ $59.4 M (≈ $461,000 per suite); 5.75% initial investment yield; 97% occupied; includes an 8,000 sq ft medical clinic; closing expected within 60 days after regulatory approvals.
• Glenmore Lodge Partial Interest – Acquired additional 22.8% interest for ≈ $10.1 M, raising Sienna’s stake to 100%; investment yield ≈ 6.65%; financed with $5.8 M cash and assumption of existing mortgage; transaction closed 31 Jan 2026.
• LaSalle Park Partial Interest – Acquired additional 10.9% interest for ≈ $9.4 M, raising Sienna’s stake to 89.1%; financed with $5.7 M cash and assumption of existing mortgage; transaction closed 1 Feb 2026; remaining 10.9% to be acquired over ~5 years.
• Total Investment – Combined outlay for all three transactions ≈ $79 M, funded largely from cash on hand.
• Strategic Rationale – Adds scale in markets where Sienna already has a presence; aligns with growth momentum stated by President & CEO Nitin Jain.

Notable Quotes

“We are off to a good start in 2026, carrying our significant growth momentum forward into the new year,” said Nitin Jain, President and Chief Executive Officer. “With these acquisitions, we will add scale in markets we know well and continue to strengthen the quality of our portfolio.”