Press Releases
Marcus & Millichap Brokers CA$170.7 Million Seniors Housing Sale in Ottawa
November 13, 2026
OTTAWA, Ontario, Canada, Nov. 13, 2026 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Stonemont On The Park, a 305-bed seniors housing asset in Ottawa, Ontario. The CA$170.7 million sale price is equivalent to approximately US$119.7 million.
“The transaction equates to approximately CA$560,000 per bed and includes an additional CA$10 million earnout contingent upon exceeding certain financial targets,” said Raffaele Guglielmelli, senior managing director of investments in Marcus & Millichap’s Ottawa office. “The sale underscores the strength of Canada’s seniors housing investment market, which is undergoing a historic recovery driven by surging demographic demand and limited new supply. With national occupancy expected to reach a record 95% by the end of 2026, sustained operational momentum has triggered notable cap rate compression across the sector. We anticipate further yield tightening over the coming quarters as mainstream investor competition intensifies.” Guglielmelli represented the seller, Stonemont Retirement Living, and procured the buyer, Sienna Senior Living Inc.
Located at 1068 Cummings Avenue, the property is across from Ken Steele Park and near major shopping destinations, medical facilities, and public transportation. Nearby healthcare institutions include Hôpital Montfort and The Ottawa Hospital’s General and Civic campuses.
Completed in 2025, Stonemont On The Park is a six-story facility offering studio, one-, two- and three-bedroom accommodations. The property offers a broad range of senior living and care options, from fully independent seniors’ apartments to supportive and assisted living with enhanced care services. Amenities include restaurant-style dining, a bistro, community gathering spaces, a theater, an indoor heated swimming pool, a fitness center and landscaped outdoor areas.
“The transaction equates to approximately CA$560,000 per bed and includes an additional CA$10 million earnout contingent upon exceeding certain financial targets,” said Raffaele Guglielmelli, senior managing director of investments in Marcus & Millichap’s Ottawa office. “The sale underscores the strength of Canada’s seniors housing investment market, which is undergoing a historic recovery driven by surging demographic demand and limited new supply. With national occupancy expected to reach a record 95% by the end of 2026, sustained operational momentum has triggered notable cap rate compression across the sector. We anticipate further yield tightening over the coming quarters as mainstream investor competition intensifies.” Guglielmelli represented the seller, Stonemont Retirement Living, and procured the buyer, Sienna Senior Living Inc.
Located at 1068 Cummings Avenue, the property is across from Ken Steele Park and near major shopping destinations, medical facilities, and public transportation. Nearby healthcare institutions include Hôpital Montfort and The Ottawa Hospital’s General and Civic campuses.
Completed in 2025, Stonemont On The Park is a six-story facility offering studio, one-, two- and three-bedroom accommodations. The property offers a broad range of senior living and care options, from fully independent seniors’ apartments to supportive and assisted living with enhanced care services. Amenities include restaurant-style dining, a bistro, community gathering spaces, a theater, an indoor heated swimming pool, a fitness center and landscaped outdoor areas.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
