Sonida Senior Living Inc. recently acquired two senior living communities in the Atlanta area for a total of $29 million. These properties consist of 178 units and have an average occupancy rate of 86%, with each occupied room generating over $5,700 in revenue.
This acquisition will bring Sonida’s portfolio to three assets in the Atlanta market, including Waterford at Decatur. The company plans to finance this transaction using cash from its balance sheet and proceeds from its senior secured revolving credit facility.
This is Sonida’s second purchase announcement within the last three months. They also closed on a $102.9 million deal for an eight-asset senior housing portfolio with 555 units located across northern Florida and South Carolina.
With these two new acquisitions, Sonida has added a total of 19 communities to their portfolio so far this year.
In addition, the company has secured an additional commitment of $75 million under their existing senior secured revolving credit facility with BMO Bank N.A., further strengthening their financial position for future growth opportunities.
