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BRIEF-Sienna Senior Living announces proposed acquisition of 2 retirement residences in Ontario
October 16, 2017 / 7:56 PM / a month ago

BRIEF-Sienna Senior Living announces proposed acquisition of 2 retirement residences in Ontario

Oct 16 (Reuters) - Sienna Senior Living Inc:

* Sienna Senior Living announces proposed acquisition of two luxury retirement residences in Ontario and $100 million bought deal public offering of common shares

* Says ‍aggregate purchase price for 2 properties is approximately $164 million​

* Says deal for 2 properties expected to be accretive to co’s operating FFO and adjusted FFO per common share on a leverage neutral basis​

* Says ‍entered deal with syndicate of underwriters, underwriters agreed to buy 5.7 million shares of co at $17.45/common share​

* Says‍ intends to finance deal by combination of assumption of about $62 million existing mortgages, proceeds of $100 million offering, others Source text for Eikon: Further company coverage:

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