Sonida Senior Living (NYSE:SNDA) has completed its acquisition of CNL Healthcare Properties (CHP) in a cash-and-stock transaction valued at approximately $1.8 billion.
The closing marks a transformative step for Sonida, elevating the company to the position of the eighth-largest owner of senior living assets in the United States.
The combined entity now controls a portfolio of 153 communities comprising roughly 14,700 owned units.
The acquisition significantly broadens Sonida’s geographic footprint, bolstering its existing presence in the South, Southeast, and Midwest while providing new entries into the Mountain West, Pacific Northwest, and Mid-Atlantic markets.
The portfolio remains focused on high-growth, private-pay independent living, assisted living, and memory care facilities.
The deal received overwhelming support from shareholders during a special meeting held on February 26, 2026.
Approximately 88.9% of the total voting power at Sonida voted in favor of the share issuance required to cement the deal.
Under the final terms, Sonida acquired 100% of CHP’s common stock for a total consideration of $7.22 per share.
This payout consisted of $2.32 in cash and an exchange ratio of 0.1318 shares of Sonida common stock for each CHP share held.
The combined company will continue to trade under Sonida’s existing "SNDA" ticker on the New York Stock Exchange.