Sienna Senior Living to acquire Brighton retirement residence for $73.8M

By Katherine Hamilton Sienna Senior Living agreed to acquire Brighton Retirement & Active Living, a 165-suite retirement residence in Brighton, Ontario. Sienna is buying Brighton for $73.8 million, or $447,000 per suite. The property comprises 124 retirement suites, which opened in 2024 and are about 95% occupied, as well as 41 senior apartments, which opened in 2025 and are currently in lease-up, the company said Thursday. There are also five commercial units on the ground floor. The deal includes $1.5 million of income support for the lease-up of the senior apartments and commercial units, as well as $5 million earnout contingent on exceeding certain financial targets. The deal is expected to close in the fourth quarter. Sienna plans to finance it with cash on hand and credit facilities. Write to Katherine Hamilton at katherine.hamilton@wsj.com (END) Dow Jones Newswires October 08, 2026 16:20 ET (20:20 GMT) Copyright (c) 2026 Dow Jones & Company, Inc. The statements in this document shall not be considered as an objective or independent explanation of the matters. Please note that this document (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and (b) is not subject to any prohibition on dealing ahead of the dissemination or publication of investment research.