Mr. Nitin Jain reports

SIENNA COMPLETES ACQUISITION IN GREATER OTTAWA AREA

Sienna Senior Living Inc. has completed its previously disclosed acquisition of Rockland Manor, a 160-suite retirement residence in Rockland, Ont., located within the greater Ottawa area.

The gross purchase price for the property was approximately $41.0-million, or $256,000 per suite, with an initial investment yield of approximately 6.0 per cent. Built in 2015, the property is approximately 98 per cent occupied and offers services ranging from independent living to memory care.

The acquisition was financed through available cash on hand.

"Given Sienna's growing presence in the region, we expect the addition of Rockland Manor to support meaningful synergies as we continue to scale our portfolio in Eastern Ontario," said Nitin Jain, president and chief executive officer. "We look forward to integrating this vibrant community into Sienna's growing platform and welcoming its residents, families and team members."

About Sienna Senior Living Inc.

Sienna Senior offers a full range of seniors living options, including independent living, assisted living and memory care, under its Aspira retirement brand, long-term care, and specialized programs and services. Sienna's approximately 15,500 employees are passionate about cultivating happiness in daily life.

We seek Safe Harbor.