Sonida Senior Living Stock Price, News & Analysis

Sonida Senior Living, Inc. (NYSE: SNDA) is a Dallas-based owner, operator and investor in senior housing communities, focused on independent living, assisted living and memory care for senior adults in the United States. The company is part of the broader health care and social assistance sector through its senior living operations. Sonida describes its approach as providing compassionate, resident-centric services and care, along with engaging programming across its communities.

According to company disclosures, Sonida operates a national platform of senior housing communities. As of various recent reporting dates in 2025, the company owned, managed or invested in approximately 96–97 senior housing communities across 20 states, with aggregate capacity of roughly 10,150–10,260 residents. This footprint includes more than 80 owned senior housing communities, some held through joint venture structures, and a set of communities managed on behalf of third parties.

Business model and services

Sonida’s core business is centered on senior living communities that offer different levels of support. Company descriptions and prior summaries indicate that its communities provide independent living, assisted living, memory care, respite care and temporary care programs, and home care services. The basic service offering at its communities has been described as including meals, housekeeping, laundry, 24-hour staffing, transportation, social and recreational activities, and healthcare monitoring. These services are intended to support residents’ daily living needs and provide a structured, supportive environment.

Within this framework, Sonida positions itself as a platform that combines ownership, operation and investment in senior housing. The company emphasizes resident-centric care, safety, and engagement, and highlights programming and services designed for senior adults living in its independent living, assisted living and memory care settings.

Geographic reach and community footprint

Sonida’s platform spans multiple U.S. states. Company press releases in 2025 reference communities in markets such as Texas, Florida, Georgia and Ohio, alongside a broader 20-state footprint. The company has highlighted regional clusters in areas like the Dallas–Fort Worth market, the greater Atlanta area and the Tampa region, reflecting a strategy of regional densification—building multiple communities in selected metropolitan areas to leverage operating scale and efficiencies.

Examples from recent disclosures include the acquisition of senior housing communities in the Dallas–Fort Worth, Atlanta and Tampa submarkets, and the expansion of a campus in Cincinnati, Ohio, where Sonida operates a senior living campus offering independent living, assisted living, memory care and respite care. These examples illustrate how the company adds communities and expands existing campuses within its overall portfolio.

Growth through acquisitions and portfolio expansion

Sonida has described an inorganic growth strategy focused on acquiring high-quality senior housing communities, often at discounts to estimated replacement cost, in submarkets where it already has operating experience. Press releases in 2025 detail acquisitions of communities in Texas, Florida and Georgia, with the company stating that these transactions are intended to expand, densify and upgrade its portfolio and to leverage operating scale, local resource pooling and regional marketing support.

In addition to individual community acquisitions, Sonida has entered into a definitive merger agreement with CNL Healthcare Properties, Inc. (CHP), a public non-traded real estate investment trust that owns a national portfolio of senior housing communities. Under this agreement, Sonida will acquire 100% of the outstanding common stock of CHP in a stock and cash transaction valued at approximately $1.8 billion. Company and advisor communications describe the combined enterprise, upon closing, as a pure-play senior housing owner-operator with a portfolio of 153 owned independent living, assisted living and memory care communities and approximately 14,700 units, and an expected total enterprise value of about $3.0 billion.

The merger is subject to customary closing conditions, including approvals from Sonida and CHP shareholders and regulatory clearances. Sonida has also disclosed committed financing arrangements, including bridge financing and an amended and restated credit agreement with term loan and revolving credit facilities, to support the cash portion of the CHP transaction and broader capital needs.

Capital structure and financing

Sonida’s common stock trades on the New York Stock Exchange under the symbol SNDA. The company has entered into multiple credit and term loan agreements to finance its operations and acquisitions. In 2024, it entered into a senior secured revolving credit facility with BMO Bank, N.A. and Royal Bank of Canada. As of mid and late 2025, company filings and press releases describe this facility as having a borrowing capacity of up to $150 million, a term of three years, and a leverage-based pricing matrix over SOFR, secured by a borrowing base of senior living communities.

In August 2025, Sonida entered into a senior secured term loan with Ally Bank, amending and restating an existing term loan agreement. The 2025 Ally Term Loan provides for an initial advance secured by 19 communities and allows for additional draws subject to certain performance metrics, with a variable interest rate based on one-month SOFR plus a margin.

On December 29, 2025, Sonida entered into an amended and restated credit agreement that provides for two term loan facilities and a revolving credit facility with an aggregate principal amount of $375 million. These facilities are intended to fund acquisitions and capital expenditures, working capital and general corporate purposes, including a portion of the cash consideration for the CHP acquisition. The facilities are secured by pledges of equity interests in entities that own borrowing base properties, with provisions for the release of these pledges upon meeting specified covenant requirements.

Operational focus and portfolio metrics

Sonida regularly reports operating metrics such as resident revenue, occupancy, revenue per available unit (RevPAR), revenue per occupied unit (RevPOR), community net operating income (NOI) and Adjusted EBITDA. In its 2025 quarterly results press releases, the company highlighted increases in resident revenue, occupancy improvements in both same-store and acquisition portfolios, and growth in community NOI and Adjusted EBITDA compared to prior-year periods. These disclosures underscore the company’s focus on portfolio performance, integration of acquired communities and operating margin trends.

The company has also described investments in its communities, including capital expenditures for aesthetic refreshes and amenity enhancements, and the use of technology in certain communities. For example, a new building at The Wellington at North Bend Crossing in Cincinnati incorporates resident-focused technologies such as a nurse call operating system and AI-based fall detection, reflecting Sonida’s emphasis on safety and resident-centered care within its licensed assisted living and memory care operations.

Regulatory and corporate governance context

As a public company, Sonida files periodic and current reports with the U.S. Securities and Exchange Commission (SEC), including Forms 10-K, 10-Q and 8-K. Recent 8-K filings have disclosed material events such as the CHP merger agreement, the amended and restated credit agreement, and amendments to the company’s bylaws. For example, in December 2025 the board of directors approved a third amendment to the company’s second amended and restated bylaws to address procedures for advance notice of stockholder nominations and other business to be brought before stockholder meetings.

Sonida’s merger-related filings and communications include a joint proxy statement/prospectus on Form S-4/A in connection with the CHP transaction, which is intended to provide information to stockholders of both companies regarding the proposed combination and related matters.

Position within the senior living sector

Through its existing portfolio and the pending CHP merger, Sonida is described in transaction communications as a pure-play senior housing owner-operator platform. Newmark, acting as a real estate advisor on the merger, noted that the combination is expected to create the eighth largest owner of senior living assets in the United States by number of owned units. Company statements emphasize offerings across the continuum of care for senior adults and a strategy that combines ownership, operation and investment in senior housing communities.

FAQs about Sonida Senior Living, Inc. (SNDA)

• What does Sonida Senior Living, Inc. do?
  Sonida Senior Living, Inc. is an owner, operator and investor in senior housing communities in the United States. Its communities focus on independent living, assisted living and memory care for senior adults, and the company emphasizes resident-centric services, care and programming.
• What types of senior living services are associated with Sonida’s communities?
  Company descriptions and prior summaries state that Sonida’s communities offer independent living, assisted living, memory care, respite care and temporary care programs, and home care services. Basic services described include meals, housekeeping, laundry, 24-hour staffing, transportation, social and recreational activities, and healthcare monitoring.
• Where does Sonida Senior Living operate?
  Sonida reports that it owns, manages or invests in senior housing communities across 20 U.S. states. Press releases reference communities and acquisitions in markets such as Texas, Florida, Georgia and Ohio, alongside a broader multi-state footprint.
• How many communities are in Sonida’s portfolio?
  As of several reporting dates in 2025, Sonida disclosed that it owned, managed or invested in approximately 96–97 senior housing communities with capacity for roughly 10,150–10,260 residents. These totals include owned communities, some held through joint ventures, and communities managed for third parties.
• On which exchange is Sonida’s stock listed and what is its ticker symbol?
  Sonida Senior Living, Inc.’s common stock is listed on the New York Stock Exchange under the ticker symbol SNDA, as indicated in its SEC filings.
• What is the strategic merger with CNL Healthcare Properties, Inc.?
  Sonida has entered into a definitive merger agreement to acquire 100% of the outstanding common stock of CNL Healthcare Properties, Inc., a public non-traded REIT focused on senior housing. The transaction is structured as a cash and stock deal valued at approximately $1.8 billion and, upon closing, is expected to create a combined senior housing owner-operator platform with 153 owned communities and approximately 14,700 units.
• How is Sonida financing its growth and acquisitions?
  Sonida has disclosed multiple financing arrangements, including a senior secured revolving credit facility with BMO Bank, N.A. and Royal Bank of Canada, a senior secured term loan with Ally Bank, and an amended and restated credit agreement providing term loan and revolving credit facilities. The company has also arranged bridge financing and permanent debt commitments to support the cash portion of the CHP merger consideration.
• What metrics does Sonida report to describe its operating performance?
  In quarterly results press releases, Sonida reports metrics such as resident revenue, occupancy levels for same-store and acquisition portfolios, RevPAR, RevPOR, community net operating income (NOI) and Adjusted EBITDA. These metrics are used to describe trends in occupancy, pricing and operating profitability across its portfolio.
• How does Sonida describe its approach to resident care?
  Sonida characterizes its approach as compassionate and resident-centric, with services and care tailored to senior adults in independent living, assisted living and memory care settings. The company highlights engaging programming at its communities and, in some cases, the use of technology and specialized memory care programs to support safety, engagement and dignity.
• Is the merger with CNL Healthcare Properties, Inc. completed?
  The available information describes a definitive merger agreement and expected closing timing subject to customary conditions, including stockholder approvals and regulatory clearances. The transaction is presented as pending, and the materials do not state that the merger has been completed.