Sonida Senior Living, Inc. entered into an agreement to acquire two seniors housing communities that comprise 178 units in Atlanta, Georgia, for $29 million, or $163,000 per unit. The acquisition is expected to be funded through cash on hand and proceeds from Sonida’s senior secured revolving credit facility.
Next, Sonida completed the acquisition of eight senior living campuses in the Southeast for $103 million. These transactions have increased the company’s year-to-date acquired properties to 17 and expanded its operating portfolio to 91 communities.
Also, Sonida closed an additional $75 million commitment on its senior secured revolving credit facility, bringing the total capacity to $150 million. This credit facility, originally entered with BMO Bank N.A. and expanded with the Royal Bank of Canada, has a term of three years and is fully recourse to Sonida and its subsidiaries.
