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.
The 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.
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.
“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.”
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
