11:17 AM EDT, 04/02/2025 (MT Newswires) -- Sienna Senior Living ( LWSCF ) on Wednesday said it finalized its acquisition of four continuing care homes in Alberta for $181.6 million.

The acquisition, which is expected to generate a 6.5% investment yield in the first 12 months of operations, was financed through the assumption of $150.6 million of debt with a weighted average interest rate of 4.6% and a remaining average term of 4.3 years. The balance was financed with cash.

Sienna also said that it purchased the remaining 30% interest in Nicola Lodge in Vancouver in February.

"This acquisition strengthens Sienna's national presence and further enhances the scale, quality, and geographic diversity of our operations," said Nitin Jain, chief executive officer.

The company's shares were last seen down $0.03 to $16.67 on the Toronto Stock Exchange.

Price: 16.67, Change: -0.03, Percent Change: -0.18