Sienna Completes Acquisition in Greater Ottawa Area
MARKHAM, Ontario, June 26, 2026 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) announced today that it has completed its previously disclosed acquisition of Rockland Manor, a 160-suite retirement residence in Rockland, Ontario, located within the Greater Ottawa Area.
The gross purchase price for the property was approximately $41.0 million, or $256,000 per suite, with an initial Investment Yield of approximately 6.0%. Built in 2015, the property is approximately 98% occupied and offers services ranging from independent living to memory care.
The acquisition was financed through available cash on hand.
"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," said Nitin Jain, President and Chief Executive Officer. “We look forward to integrating this vibrant community into Sienna’s growing platform and welcoming its residents, families and team members.”
About Sienna Senior Living
Sienna Senior Living Inc. (TSX: SIA) offers a full range of seniors' living options, including independent living, assisted living and memory care under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna's approximately 15,500 employees are passionate about cultivating happiness in daily life. For more information, please visit www.siennaliving.ca.
Forward-Looking Statements
Certain of the statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements generally use forward-looking words, such as “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals”, “target” or other similar words and are based on the Company’s expectations, estimates, forecasts and projections. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Hung
Chief Financial Officer and Executive Vice President, Investments
(905) 489-0258
david.hung@siennaliving.ca
Nancy Webb
Executive Vice President, Corporate Affairs and Marketing
(905) 477-4006 ext. 3030
nancy.webb@siennaliving.ca
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