Sienna Completes Acquisition in the Greater Toronto Area
This news release constitutes a “designated news release” for the purposes of Sienna’s amended and restated prospectus supplement dated November 14, 2025 to its short form base shelf prospectus dated November 29, 2024.
MARKHAM, Ontario, Dec. 19, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) announced today that it has completed its previously disclosed acquisition of a 78.2% interest in LaSalle Park located in Burlington, Ontario, a suburb within the Greater Toronto Area (“GTA”).
Built in 2013, the property is 97% occupied and consists of 92 independent living and 31 assisted living units. Sienna has acquired the 78.2% interest in the property for a gross purchase price of approximately $67.2 million with an initial Investment Yield of approximately 5.70%. The Company expects to acquire an additional 10.9% interest in January 2026, and the final 10.9% interest in five years.
The acquisition of the 78.2% interest in LaSalle Park was financed through the assumption of approximately $26.7 million in debt, with the remaining balance funded with the Company’s cash on hand.
"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 $800 million of assets to our portfolio this year, generating strong growth momentum we expect to carry forward into 2026.”
| 2025 Acquisitions & Developments | Year Built | Location | Number of Beds/ Suites | Purchase Price / Development Cost ($M) (1) | Investment Yield / Expected Development Yield (%) (2) | ||
| Nicola Lodge / LTC (30%) | 2016 | Greater Vancouver Area, British Columbia | 256 | $ | 26.5 | 6.75 | |
| Alberta Portfolio / LTC | 2022/2023 | Calgary, Edmonton, Medicine Hat, Fort Saskatchewan, Alberta | 540 | $ | 181.6 | 6.50 | |
| Wildpine / Retirement | 2019 | Ottawa, Ontario | 165 | $ | 48.0 | 6.25 | |
| Hazeldean Gardens / Retirement | 2018 | Ottawa, Ontario | 172 | $ | 85.3 | 6.33 | |
| Credit River / Retirement | 2016 | Greater Toronto Area, Ontario | 133 | $ | 60.2 | 5.75 | |
| Cawthra Gardens / LTC | 2003 | Greater Toronto Area, Ontario | 192 | $ | 32.6 | 6.75 | |
| Hygate / Retirement | 2021 | Waterloo, Ontario | 216 | $ | 93.3 | 6.00 | |
| LaSalle Park / Retirement | 2013 | Greater Toronto Area, Ontario | 123 | $ | 67.2 | 5.70 | |
| Total Acquisitions | $ | 594.7 | |||||
| Northern Heights | 2025 | North Bay, Ontario | 160 | $ | 78.0 | 8.00 | |
| Brants Landing (Retirement) & Oakwood Commons (LTC) | 2025 | Brantford, Ontario | 147 / 160 | $ | 140.0 | 8.50 | |
| Total Developments | $ | 218.0 | |||||
| Total Portfolio Expansion | $ | 812.7 | |||||
| 1. Purchase price excludes working capital and other adjustments. 2. This is a KPI. Refer to the Non-GAAP Measures section in the Company’s most recent MD&A for definition and additional information. | |||||||
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 15,000 employees are passionate about cultivating happiness in daily life. For more information, please visit
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
Nancy Webb
Executive Vice President, Corporate Affairs and Marketing
(905) 477-4006 ext. 3030
