Sonida Senior Living to Acquire 8-Community Portfolio for $103M 

Sonida Senior Living (NYSE: SNDA) has announced plans to acquire an eight-property senior living portfolio in Florida and South Carolina for $103 million. The acquisition, spanning 555 units offering assisted living and memory care services, will expand Sonida’s footprint in the region. Brandon Ribar, Sonida’s president and CEO, emphasized the potential for value creation through integrating Sonida’s operating platform and optimizing occupancy and revenue. The portfolio, with an average age of five years, was acquired at a per-unit price of $185,000, with an occupancy rate of approximately 83%. The acquisition is expected to close in the late third or fourth quarter of this year. In conjunction with the acquisition, Sonida announced a public offering of 4 million shares of common stock to fund the purchase. As of market close on Thursday, Sonida stock had risen by 10.5% to $32 per share.