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Sonida Senior Living to Merge with CNL Healthcare in $1.8 Billion Deal
Sonida Senior Living, Inc. and CNL Healthcare Properties, Inc. (CHP) have announced a definitive merger agreement in which Sonida will acquire 100% of CHP in a cash-and-stock transaction valued at approximately $1.8 billion. Following the merger, the combined enterprise is expected to have an equity market capitalization of around $1.4 billion and a total enterprise value of approximately $3.0 billion.
The newly combined company will own a portfolio of 153 senior living communities, including independent living, assisted living, and memory care facilities. The integration of both portfolios strengthens Sonida’s position in key submarkets across the South, Southeast, and Midwest, while also expanding its national footprint into the Mountain West and Pacific Northwest regions.
Newmark’s Chad Lavender, President of Capital Markets for North America, and Ryan Maconachy, Vice Chairman and Co-Head of Healthcare and Alternative Real Estate Assets, advised on the transaction. “This merger reflects the strength of Sonida’s leadership and strategy, pairing operational excellence with a platform well-positioned to capture the long-term demographic tailwinds in the senior living sector,” said Maconachy.
Post-merger, Sonida will continue to trade under its existing NYSE ticker symbol and will retain its current leadership team. The transaction is expected to close in the first half of 2026.
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