TSX:SIAHealthcare
Is Sienna’s Cash-Funded Rockland Manor Deal Altering The Investment Case For Sienna Senior Living (TSX:SIA)?
Sienna Senior Living Inc. has completed its previously announced acquisition of Rockland Manor, a 160-suite retirement residence in Rockland, Ontario, for approximately C$41.0 million, or about C$256,000 per suite, funded entirely with cash on hand.
With Rockland Manor approximately 98% occupied and offering care levels from independent living to memory care, this acquisition adds a relatively high-yield, fully built asset to Sienna’s expanding Canadian senior living platform.
We’ll examine...