Ottawa's Stonemont retirement residence changes hands as Sienna completes C$170.7 million acquisition

Sienna Senior Living (TSX: SIA) announced on 30 October that it has completed its previously disclosed C$170.7 million acquisition of Stonemont On the Park, a 305-suite retirement residence in Ottawa, Ontario. The transaction includes an additional C$10.0 million earnout contingent upon exceeding certain financial targets, and Sienna financed the acquisition with available cash on hand.

What Stonemont is

Stonemont is a newly built retirement residence that opened in 2024 and is nearly 100% occupied. It offers a broad range of senior living and care options, from fully independent seniors' apartments to supportive and assisted living with enhanced care services.

Why Sienna bought it

President and CEO Nitin Jain said the addition of Stonemont highlights the quality and scale of the opportunities available to the company as it continues to grow. Since the beginning of 2025, Sienna has added approximately C$1.2 billion in assets through acquisitions and developments, with each addition reflecting its strategy of expanding in attractive markets and complementing its growing platform with high-quality assets. Sienna offers a full range of seniors' living options, including independent living, assisted living and memory care under its Aspira retirement brand, plus long-term care, and employs approximately 15,500 people.