Sienna Senior Living Inc. Completes Acquisition of Ten High-Quality Retirement Residences in Ontario
The Acquisition and related transaction costs were financed through a combination of: (i) the assumption and up financing of approximately
“This strategic acquisition continues to enhance the quality and size of Sienna's retirement portfolio, in keeping with the Company’s goal of achieving a balanced portfolio of 50% private pay, and is expected to drive long-term value creation for shareholders. We look forward to welcoming the new team members and residents and continuing to strengthen Sienna’s operating platform as the Company expands its presence in key markets,” said
ABOUTSIENNASENIORLIVINGINC
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" or other similar words and include, among other things, the Company’s plans to refinance the acquisition term loan facility post-closing, the Company’s goal of achieving a balanced portfolio of 50% private pay, the expectation that the Acquisition will drive long-term value creation for the Company’s shareholders and the Company’s efforts to continue to strengthen Sienna’s operating platform and expand its presence in key markets. Although management believes that it has a reasonable basis for the expectations reflected in these forward-looking statements, actual results may differ from those suggested by the forward-looking statements for various reasons. Unanticipated events and risk factors could cause actual results to differ materially from the results and events discussed in the forward-looking statements. These forward-looking statements reflect Sienna's current expectations as at the date of this news release and speak only as at the date of this news release. Sienna 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:
President & Chief Executive Officer
(905) 415-7612
Lois.Cormack@siennaliving.ca
Chief Financial Officer & Chief Investment Officer
(905) 489-0787
Nitin.Jain@siennaliving.ca
Source: Sienna Senior Living