Sonida Senior Living and CNL Healthcare Properties to Merge in $1.8 Billion Deal
Sonida Senior Living, Inc. has entered into a definitive merger agreement to acquire 100% of CNL Healthcare Properties, Inc. (CHP) in a cash-and-stock transaction valued at approximately $1.8 billion. Upon completion of the merger, the combined enterprise is expected to have an equity market capitalization of around $1.4 billion and a total enterprise value estimated at $3.0 billion.
The newly combined company will boast a diverse portfolio of 153 owned properties, including independent living, assisted living, and memory care senior living communities. The merger brings together complementary real estate assets that strengthen Sonida’s presence in key submarkets across the South, Southeast, and Midwest, while also expanding into the Mountain West and Pacific Northwest regions.
Chad Lavender, President of Capital Markets, North America, and Ryan Maconachy, Vice Chairman and Co-Head of Healthcare and Alternative Real Estate Assets at Newmark, served as advisers on the transaction. Maconachy noted, “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.”
Following the completion of the deal, Sonida will maintain its NYSE ticker symbol and its existing leadership team. The transaction is expected to close in the first half of 2026.
