This news release serves as 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 successfully completed its previously disclosed acquisition of Hygate on Lexington (“Hygate”) located in Waterloo, Ontario.
Constructed in 2021, this six-story retirement residence features 216 suites with a variety of accommodations including 126 independent supportive living units, 40 assisted living units, and 50 senior apartments. The property also includes a sizable development site of 4.7 acres with municipal zoning suitable for either a retirement residence or residential condominium.
Sienna purchased Hygate for $93.3 million, which breaks down to about $432,000 per suite and offers a stabilized investment yield of around 6.0%. The property is currently being leased up and was acquired at a price lower than the 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) provides a comprehensive range of seniors’ living options including independent living, assisted living and memory care under its Aspira retirement brand as well as long-term care and specialized programs. With approximately 15,000 employees dedicated to creating happiness in daily life, Sienna is committed to enhancing the lives of seniors. For more information, please visit www. siennaliving. ca.
Forward-Looking Statements
Certain statements in this news release are forward-looking statements aimed at sharing management’s current expectations and plans regarding future operations. Readers should note that these statements may not be suitable for other purposes. Typically using forward-looking terms like “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals”, “target” or similar phrases, these statements are based on the Company’s current expectations and projections. They are subject to various known and unknown risks and uncertainties that could cause actual results or events to differ significantly from what is expressed or implied by such statements; thus they should not be viewed as guarantees of future performance or results nor taken as accurate indicators for achieving those results. The forward-looking statements here rely on available information along with management’s reasonable assumptions at this time. The Company does not assume any obligation to publicly update or revise any forward-looking statements unless required by 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
Source link
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
Source link
