Major seniors facility operator buys location in Medicine Hat

By Medicine Hat News on October 18, 2024.

@MedicineHatNews

A national seniors care facility operator has acquired its first locations in Alberta, including one in Medicine Hat.

Sienna Senior Livings announced Wednesday it has purchased four facilities built, owned and operated by Points West Living under the name of Community Cares, for $181.6 million in Edmonton, Airdrie, Fort Saskatchewan and Medicine Hat.

The Medicine Hat facility, located at 1713 Strachan Rd., opened in July 2023 and features 126 units, including 36 spaces for supportive living dementia clients. The local facility is cited as currently at 84 per cent capacity in the company release.

The units are 100 per cent funded by Alberta Health Services, which gives the provincial government final approval authority on the sale.

“We are excited to expand our operations in Alberta, one of Canada’s fastest growing provinces, welcome new team members and serve the residents and families of Albertans,” said Nitin Jain, Sienna’s president. “This acquisition helps us increase our national footprint and further enhance the size, quality and geographic reach of Sienna’s operating platform.”

All buildings were completed no earlier than 2022.

Similar sized facilities are located in Airdrie and Fort Saskatchewan while the Edmonton “Shasta Care” community is 162 units, making for 540 units in total involved in the transaction.

That increases Sienna’s unit count by eight per cent.

The purchase is funded by a $150-million loan from the Canadian Housing and Mortgage Corporation.

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