Sonida Senior Living, CNL Healthcare to Merge in $1.8B Cash-and-Stock Deal

Sonida Senior Living, CNL Healthcare to Merge in $1.8B Cash-and-Stock Deal
News| November 6, 2025| Paul Bubny

Sonida Senior Living, Inc. and CNL Healthcare Properties, Inc. (CHP) have reached a definitive merger agreement under which Sonida will acquire 100% of CHP in a cash-and-stock transaction valued at approximately $1.8 billion. As a combined enterprise, Sonida expects to have an equity market capitalization of approximately $1.4 billion and a total enterprise value of approximately $3.0 billion.

The combined company will have a portfolio of 153 owned independent living, assisted living and memory care senior living communities. The two portfolios have complementary footprints that deepen Sonida’s exposure to high-quality assets in strong submarkets in the South, Southeast and Midwest while expanding national exposure to the Mountain West and Pacific Northwest.

Newmark’s Chad Lavender, president of Capital Markets, 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,” Maconachy said.

Sonida will retain its NYSE ticker symbol and existing leadership team post-closing. The transaction is expected to close in the first half of 2026.

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