The Canadian senior care M&A market seems to have thawed this Spring, with a hefty acquisition. Sienna Senior Living paid CAD$255 million ($201.7 million) acquisition of eight retirement/senior care communities in British Columbia. Known as the Baltic properties (though certainly not a Monopoly reference due to their quality), the portfolio includes two private pay independent living communities and six senior care communities that include both long-term care and assisted living. Plus, Sienna purchased a 50% interest in Pacific Seniors Management General Partnership, the current manager of the Baltic properties, as well as options to acquire up to 100% of two newly built seniors housing assets for less than market value. The company must acquire the remaining 50% interest of Pacific Seniors in June 2019 for approximately CAD$1.7 million ($1.34 million), subject to adjustments. Included in the CAD$255 million purchase price was CAD$1 million for excess land with future expansion potential and some CAD$137 million ($108.4 million) in existing mortgages. Greystone represented the seller in the transaction, an undisclosed private equity group.