Sonida Senior Living (NYSE: SNDA) has recently announced the addition of eight new senior living communities through two joint-venture agreements. These communities, totaling 790 units of independent, assisted living, and memory care units, were added in May and July.
With these new additions, Sonida now has a portfolio of 70 communities across the U.S. This strategic expansion is part of the company’s growth plan, focused on securing attractive returns and enhancing its operating platform.
According to President and CEO Brandon Ribar, the acquired communities are high-quality assets located in metropolitan areas with strong growth potential. By leveraging sourcing channels, Sonida aims to identify promising investment opportunities and drive long-term growth for its shareholders.
In partnership with Palatine Capital Partners, Sonida recapitalized four senior living communities in San Antonio, Austin, and Atlanta. This partnership has enabled Sonida to enter the Atlanta market for the first time.
In a separate joint venture with KZ Family Ventures, Sonida added four newly built communities in Ohio, Missouri, and Kentucky. This strategic move further strengthens Sonida’s presence in key markets.
