Completes purchases in Atlanta and Tampa submarkets for a combined purchase price of $22 million
DALLAS, June 09, 2025–(BUSINESS WIRE)–Sonida Senior Living, Inc. (“Sonida” or the “Company”) (NYSE: SNDA), a leading owner, operator and investor in senior living communities, announced today the closing of its latest acquisitions. The Company continues to execute on its inorganic growth strategy, which aims to further expand, densify and upgrade its portfolio to fully leverage operating scale and efficiencies.
“Sonida remains focused on executing its disciplined growth strategy through thoughtful deal structuring and careful selection of high-quality communities purchased at meaningful discounts to replacement cost,” said Brandon Ribar, President and Chief Executive Officer. “With no material near-term debt maturities and continued favorable demographic and supply dynamics, we continue to capitalize on compelling and accretive investment opportunities to complement the significant upside potential in our existing portfolio.”
Senior Housing Community Acquisition in Atlanta Submarket
On June 1, 2025, the Company finalized the acquisition of a single senior living community in the Atlanta MSA for $11 million, or approximately $125,000 per unit, reflecting a significant discount to replacement cost. The upscale and amenitized asset has 88 units (64 Assisted Living / 24 Memory Care) and was completed in 2017.
The community is located in Alpharetta, a high-growth submarket of Atlanta with favorable demographics and is strategically situated near Sonida’s recently acquired Atlanta assets, further leveraging operating scale through cost efficiencies, local resource pooling and enhanced marketing presence. Consistent with the Company’s strategy of regional densification, the acquisition brings Sonida’s greater Atlanta portfolio total to four assets.
Sonida funded the transaction with cash on hand and proceeds from its senior secured revolving credit facility.
The Company expects a double-digit cap rate upon stabilization.
Senior Housing Community Acquisition in Tampa Submarket
On May 30, 2025, the Company finalized the acquisition of a single senior living community in an affluent and growing submarket of Tampa. The asset, completed in 2017, was purchased for $11 million, or approximately $172,000 per unit, reflecting a significant discount to replacement cost.
The community is located in Tarpon Springs, a high-growth submarket of Tampa, and complements Sonida’s recently acquired central Florida assets. The asset has 64 Memory Care units in a high-end purpose-built plant with significant amenity space thoughtfully designed for memory care specific needs. Sonida will implement its Magnolia TrailsTM personalized memory care programming and services to activate the community while leveraging its regional sales and marketing support to drive occupancy. Consistent with the Company’s strategy of regional densification, the acquisition brings Sonida’s Florida portfolio total to eight assets.
