Sienna Announces The Opening of Its Long-Term Care Community Redevelopment in Brantford, Ontario
MARKHAM, Ontario, Oct. 21, 2025 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. ("Sienna" or the "Company") (TSX: SIA) announced today that it has officially opened its Oakwood Commons Community in Brantford, Ontario, the Company’s second long-term care redevelopment project completed in 2025.
Oakwood Commons is a 160-bed long-term care community, replacing 122 older Class C beds. Located on the banks of the Grand River, the thoughtfully designed property offers a compelling mix of urban amenities and rural appeal. All residents of the older Class C building have now moved to their new home and Sienna expects full occupancy at Oakwood Commons by the end of 2025.
“The addition of Oakwood Commons is another step in our efforts to upgrade our property portfolio and reflects our deep commitment to providing a modern and supportive environment for residents, their families and our team members,” said Nitin Jain, President and Chief Executive Officer of Sienna. “We are deeply thankful for all involved in helping us deliver this project on time and within budget, and in the successful transition of our residents to their beautiful new home.”
Oakwood Commons is part of Sienna’s campus of care development project, which includes Aspira Brants Landing Retirement Living, a 147-suite residence that opened last month. Together with the Company’s recently completed long-term care redevelopment project in North Bay, Sienna has added $220 million of greenfield development projects this year.
Once fully operational, each development project is expected to have a significant impact on our operating results and improve Sienna’s Adjusted Funds from Operations (AFFO) by an average of approximately 3%.
About Sienna Senior Living
Sienna Senior Living Inc. (TSX:SIA) 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 15,000 employees are passionate about cultivating happiness in daily life. For more information, please visit www.siennaliving.ca.
Forward-Looking Statements
Certain of the statements contained in this news release are forward-looking statements and are provided for the purpose of presenting information about management’s current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements generally use forward-looking words, such as “anticipate,” “continue,” “could,” “expect,” “may,” “will,” “estimate,” “believe,” “goals” or other similar words and are based on the Company’s expectations, estimates, forecasts and projections. These statements are subject to significant known and unknown risks and uncertainties that may cause actual results or events to differ materially from those expressed or implied by such statements and, accordingly, should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. The forward-looking statements in this news release are based on information currently available and what management currently believes are reasonable assumptions. The Company does not undertake any obligation to publicly update or revise any forward-looking statements except as may be required by applicable law.
Non-IFRS Measures
Certain terms used in this news release, such as AFFO per share, are not measures defined under IFRS@ Accounting Standards as issued by the International Accounting Standards Board (“IFRS Accounting Standards”) and do not have standardized meanings prescribed by IFRS Accounting Standards. AFFO should not be construed as an alternative to “net income” or “cash flow from operating activities” determined in accordance with IFRS Accounting Standards as indicators of the Company’s performance. The Company’s method of calculating AFFO may differ from other issuers’ methods and accordingly, these measures may not be comparable to measures used by other issuers. The Company believes AFFO is a relevant measure of its ability to earn cash and pay dividends on its common shares. The definitions of these non-GAAP measures and an example of the reconciliation of AFFO to the most directly comparable IFRS measure are provided in the Company’s management’s discussion and analysis for the three and six months ended June 30, 2025, which is available on SEDAR+ (www.sedarplus.ca).
FOR FURTHER INFORMATION, PLEASE CONTACT:
David Hung
Chief Financial Officer and Executive Vice President, Investments
(905) 489-0258
david.hung@siennaliving.ca
Nancy Webb
Executive Vice President, Corporate Affairs and Marketing
(905) 477-4006 ext. 3030
nancy.webb@siennaliving.ca
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