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Sienna Senior Living closes C$382M seniors housing portfolio purchase

Sienna Senior Living Inc. wrapped up the purchase of 10 seniors housing properties in Ontario for roughly C$382 million, subject to closing adjustments.

The properties comprise 1,245 private-pay suites in greater Toronto and greater Ottawa.

The seniors housing provider said the purchase was funded with approximately C$88.2 million of assumed property-level debt, a C$115 million acquisition term loan, net proceeds from a recently completed bought-deal shares offering and draws on Sienna Senior's credit facilities.