Sienna Senior Living Completes Acquisition in Greater Toronto Area
MARKHAM, Ontario, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) announced today that it has finalized its acquisition of Cawthra Gardens, a 192-bed Class A long-term care home in Mississauga, Ontario, for a gross purchase price of $32.6 million, including a $2.0 million capital allowance that the Company plans to use within the next 12 months.
Sienna has acquired the property at a 6.75% capitalization rate and expects the transaction to be immediately accretive to the Company’s AFFO per share. The acquisition was financed through the use of general corporate funds.
“With this most recent acquisition, we have added over $430 million in acquisitions to date in 2025, spanning the full continuum of care – from independent living to long-term care. Combined with $220 million of completed development projects, these additions exemplify Sienna’s growth strategy,” said Nitin Jain, President and Chief Executive Officer. “We believe that our diversified approach to operating and expanding our long-term care and retirement platforms not only enhances our ability to serve seniors across all stages of care, but adds to the financial strength of our business.”
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 14,500 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” or other similar words and include, without limitation, statements with respect to the expected benefits of the acquisition to Sienna, including that the acquisition is expected to be accretive to the Company’s AFFO per share.
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.
Non-IFRS Measures
Certain terms used in this news release, such as AFFO per share, are not measures defined under IFRS@ Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and do not have standardized meanings prescribed by IFRS Accounting Standards. AFFO should not be construed as an alternative to “net income” or “cash flow from operating activities” determined in accordance with IFRS Accounting Standards as indicators of the Company’s performance. The Company’s method of calculating AFFO may differ from other issuers’ methods and accordingly, these measures may not be comparable to measures used by other issuers. The Company believes AFFO is a relevant measure of its ability to earn cash and pay dividends on its common shares. The definitions of these non-GAAP measures and an example of the reconciliation of AFFO to the most directly comparable IFRS measure are provided in the Company’s management’s discussion and analysis for the three and six months ended June 30, 2025, which is available on SEDAR+ (www.sedarplus.ca).
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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