10:07 AM EDT, 06/18/2025 (MT Newswires) -- Sienna Senior Living ( LWSCF ) was edging up, and nearer to 52 week highs, early on Wednesday after saying it finalized its previously announced acquisition of Hazeldean Gardens Retirement Residence in Stittsville, Ontario.

The 172-suite retirement residence consists of 129 independent living, 31 assisted living, and 12 memory care units.

The property was acquired for $85.25 million, including a performance-based payment of $3.75 million, and is subject to an additional performance-based contingent payment of $1.25 million. The company said it financed the full purchase price with a combination of cash on hand and credit facilities, and expects the transaction to be immediately accretive to its AFFO per share.

"The acquisition was completed at a significant discount to replacement cost with an initial investment yield of 6.33% before accounting for internal synergies, and is expected to deliver a 6.8% investment yield in the first year following closing," said the company.

A company statement noted that the residence, built in 2018, is expected to reach stabilized occupancy of 95% within the next 12 months, supported by the "rapidly improving supply-demand fundamentals in the Ottawa market."

"Hazeldean Gardens reflects our confidence to drive growth through operational synergies, supported by the strength of our expanding platform," said Sienna Senior Living's ( LWSCF ) President and Chief Executive Officer, Nitin Jain. "With this latest transaction, we have completed over $340 million of acquisitions to date in 2025 and remain very active in the acquisition market as we continue to scale our business."

Price: 18.54, Change: +0.02, Percent Change: +0.11