Sienna Completes Acquisition in Waterloo, Ontario
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. 16, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) announced today that it has completed its previously disclosed acquisition of Hygate on Lexington (“Hygate”) in Waterloo, Ontario.
Built in 2021, the six-story, 216-suite retirement residence offers a diverse range of accommodations, including 126 independent supportive living units, 40 assisted living units and 50 seniors apartments. The property also includes a 4.7-acre development site with municipal zoning for a retirement residence or residential condominium.
Sienna acquired Hygate for $93.3 million, or approximately $432,000 per suite, with a stabilized investment yield of approximately 6.0%. The property, which is currently in lease-up, was acquired at a discount to replacement cost.
“With the addition of Hygate, we continue to strengthen our presence in southwestern Ontario and further elevate the quality of our growing asset base,” said Nitin Jain, President and Chief Executive Officer. “We will leverage our extensive experience and market knowledge to reach stabilized occupancy at this highly desirable property within the next two years.”
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
