Sonida Senior Living Completes $1.8B Acquisition, Boosts Portfolio to 153 Communities — Sonida Senior Living, Inc.

Event summary

Sonida Senior Living completed the $1.8B acquisition of CNL Healthcare Properties, adding 69 communities to its portfolio.
Total portfolio NOI expanded by 22% in 2025, driven by occupancy and rate gains.
Fourth-quarter resident revenue increased by 11.9% year-over-year.
Weighted average occupancy rose to 87.9% in Q4 2025 from 87.0% in Q4 2024.
Adjusted EBITDA increased by 24.5% year-over-year to $53.8M in 2025.

The big picture

Sonida Senior Living's acquisition of CNL Healthcare Properties positions it as the eighth-largest owner of senior housing assets in the U.S., with a combined portfolio of 153 communities. This strategic move comes amid favorable senior housing fundamentals and underscores the company's focus on organic and inorganic growth. The deal highlights the ongoing consolidation trend in the senior living sector, driven by operators seeking scale and operational efficiencies.

What we're watching

Integration Challenges: How Sonida will integrate the newly acquired 69 communities into its existing portfolio and operations.
Financial Flexibility: Whether the company can sustain its liquidity position and refinance its Bridge Loan on favorable terms.
Market Dynamics: The pace at which the senior housing market will recover and how it will impact Sonida's occupancy and revenue growth.