Senior Housing News August 15, 2024
Sonida Senior Living (NYSE: SNDA) is planning to acquire an eight-property senior living portfolio in Florida and South Carolina for $103 million.
The acquisition, announced in a press release Thursday, includes properties “located in attractive submarkets” and adds to the company’s footprint in Florida and South Carolina. The portfolio in total spans 555 units, offering assisted living and memory care services.
“With this planned acquisition, Sonida will further broaden its high-quality and regionally-focused real estate portfolio with newer vintage communities in mid-to-large metropolitan areas with favorable growth prospects,” said Brandon Ribar, Sonida’s president and CEO. “By successfully integrating Sonida’s best-in-class operating platform into these communities, and with occupancy growth, ongoing rent rate improvement, and effective expense management, these investments can...
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