Markham Headquartered Sienna Senior Living Inc. Acquires Rosewood Retirement Residence and Enters into Agreement to Acquire Retirement Suites of Kawartha Lakes

MARKHAM, Ontario, June 06, 2017 (GLOBE NEWSWIRE) -- Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX:SIA) announced that it has completed the acquisition of Rosewood Retirement Residence (“Rosewood”), a retirement residence in Kingston, Ontario for a purchase price of $9.8 million, subject to customary closing adjustments.

Categorized in: Business Posted on: June 9, 2017 Last updated on: December 23, 2022 Written by: Nathan Allen

MARKHAM, Ontario, June 06, 2017 (GLOBE NEWSWIRE) — Sienna Senior Living Inc. (“Sienna” or the “Company”) (TSX:SIA) announced that it has completed the acquisition of Rosewood Retirement Residence (“Rosewood”), a retirement residence in Kingston, Ontario for a purchase price of $9.8 million, subject to customary closing adjustments.

The purchase price for Rosewood was partially settled through an assumption of the existing property level mortgage of approximately $4.6 million, maturing in January, 2018 and bearing interest at 3.77%, and a vendor take back mortgage of $3 million. The remainder of the purchase price was paid using available cash and the Company’s credit facilities.

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