Verve takes over The Ravines in Nepean
Verve Senior Living has acquired The Ravines, a retirement facility at 626 Prado Pvt. in Ottawa's Citiplace neighbourhood in Nepean, and renamed it Verve The Ravines. The deal became effective September 22, 2026.
The Ravines is a two-building campus offering independent living, independent supportive living, assisted living and memory care. Verve plans to invest $20 million over two years in upgrades, including renovated suites, refreshed care floors, and reimagined dining and lobby spaces.
Verve Senior Living president Scott Quinney said the company sees "an outstanding community with great people, a strong reputation, and tremendous potential" in the acquisition. The existing management team at The Ravines is staying on through the transition, which the company says will help residents experience a seamless changeover with familiar support in place.
The Ravines adds to Verve's presence in the region, where the company already operates Carp Commons in eastern Ontario.
Sienna's $170.7-million deal for Stonemont On the Park
Separately, Sienna Senior Living has agreed to acquire Stonemont On the Park, a 305-suite retirement residence in Ottawa, in a deal worth a gross purchase price of $170.7 million, or roughly $560,000 per suite. The agreement also includes an additional $10-million earnout tied to hitting specified financial targets.
Stonemont On the Park opened in 2024 and is already about 99% occupied, a strong occupancy rate for a residence that's only a couple of years old. The deal is expected to close in the fourth quarter of 2026.
Sienna president and CEO Nitin Jain said, "With the addition of Stonemont, we are further expanding Sienna's retirement platform in a key market." The acquisition is Sienna's fifth in Ontario in 2026 and its third in Ottawa in two years, underscoring how frequently the company has been returning to the capital to grow its footprint.
What it means for Ottawa
Together, the two deals point to Ottawa's seniors housing market as one that operators are actively competing for, not just holding onto. Since 2025, Sienna alone has added roughly $1.2 billion in assets through acquisitions and developments, and Ottawa keeps showing up as a repeat destination for that growth. For residents and families, the Verve deal in particular signals near-term change: renovated suites and refreshed common spaces at The Ravines, delivered by a management team that isn't going anywhere.
Sources: Ottawa Business Journal, Real Estate News Exchange (RENX), Newswire (Verve Senior Living official release)
