Sienna Continues Platform Growth in Ontario

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Postmedia has not reviewed the content. by GlobeNewswire Sienna Continues Platform Growth in OntarioAuthor of the article:MARKHAM, Ontario, Oct. 08, 2026 (GLOBE NEWSWIRE) — Sienna Senior Living Inc. (“Sienna” or the “Company“) (TSX: SIA) announced today that it has entered into a purchase agreement to acquire Brighton Retirement & Active Living (“Brighton”), a 165-suite retirement residence in Brighton, Ontario, located approximately 150 kilometres east of Toronto.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe property comprises 124 retirement suites, which opened in 2024 and are approximately 95% occupied, and 41 seniors’ apartments, which opened in 2025 and are currently in lease-up, as well as five commercial units on the ground floor.This advertisement has not loaded yet, but your article continues below.The gross purchase price for Brighton is approximately $73.8 million, or $447,000 per suite. The transaction includes $1.5 million of income support for the lease-up of the seniors’ apartments and commercial units, as well as an additional $5.0 million earnout contingent upon exceeding certain financial targets. The acquisition is expected to close in Q4 2026, subject to regulatory and customary closing conditions. The Company intends to finance the transaction with available cash on hand and its credit facilities.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“With the acquisition of Brighton, we are adding another new, high-quality asset to Sienna’s growing portfolio,” said Nitin Jain, President and Chief Executive Officer. “Alongside Sienna’s active redevelopment program and strategic investments in our existing properties, this transaction further strengthens the quality and scale of our portfolio. To date in 2026, we have added over $430 million in assets through acquisitions, while accelerating our long-term care redevelopment program through a $625 million joint venture partnership.”This advertisement has not loaded yet, but your article continues below.About Sienna Senior LivingSienna 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 StatementsCertain 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 HungChief Financial Officer and Executive Vice President, Investments(905) 489-0258david.hung@siennaliving.caNancy WebbExecutive Vice President, Corporate Affairs and Marketing (905) 477-4006 ext. 3030nancy.webb@siennaliving.caThis advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.