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Sonida Senior Residing Pronounces Settlement to Purchase Two Senior Residing Communities within the Indianapolis Market | Enterprise

Share this…FacebookPinterestTwitterLinkedin DALLAS–(BUSINESS WIRE)–Dec 16, 2021– Sonida Senior Residing, Inc. (the “Firm” or “Sonida Senior Residing”) (NYSE: SNDA), a number…

By Staff , in Senior Living , at December 16, 2021



DALLAS–(BUSINESS WIRE)–Dec 16, 2021–

Sonida Senior Residing, Inc. (the “Firm” or “Sonida Senior Residing”) (NYSE: SNDA), a number one owner-operator of senior dwelling communities, introduced that it entered into a purchase order and sale settlement to amass two just lately renovated senior dwelling communities for about $12.3 million.

The communities, Northfield Senior Residing and Southfield Senior Residing, embrace 157 impartial dwelling items and are situated roughly 20 minutes outdoors of downtown Indianapolis close to main highways, shops and eating places. The belongings complement Sonida Senior Residing’s current Indianapolis portfolio and can leverage the energy of the Firm’s native management staff. The Firm expects the acquisition to shut within the first quarter of 2022 topic to customary closing situations.

“This transaction represents the Firm’s method to pursuing accretive, tuck-in progress in markets the place we’ve operational experience and may leverage deep market data and scale,” mentioned Kimberly S. Lody, President and CEO. “The signing of this acquisition marks the Firm’s shift into the expansion part of our strategic plan following the just lately closed $154.8 million capital increase and strategic funding from Conversant Capital.”

The properties just lately underwent a major refurbishment, and the Firm’s buy worth, equating to roughly $79,000 per unit, represents a major low cost to substitute value. Demographics within the surrounding market space embrace a rising 75+ inhabitants with above common middle-income traits and unmet demand for this kind of low-acuity senior dwelling product. As a result of operational disruption from the renovation initiatives previous to the onset of COVID-19, the 2 belongings have an in-place November occupancy of 55.5%, as in comparison with Sonida Senior Residing’s impartial dwelling occupancy of 82.7% for a similar interval. By implementing Sonida Senior Residing’s institutionalized processes and assets, the Firm expects to ship NOI progress by means of lease up and extra resident companies with the belongings projected to generate a 9% stabilized NOI yield (unlevered).

Protected Harbor

The forward-looking statements on this launch are topic to sure dangers and uncertainties that would trigger the Firm’s precise outcomes and monetary situation to vary materially, together with, however not restricted to: the satisfaction of all situations to the closing of the proposed transaction; different dangers associated to the consummation of the proposed transaction, together with the chance that the transaction won’t be consummated inside the anticipated time interval or in any respect; the continued unfold of COVID-19 and extremely contagious variants and sub-lineages, together with the velocity, depth, geographic attain and period of such unfold; new info that will emerge in regards to the severity of COVID-19; the actions taken to stop or include the unfold of COVID19 or deal with its affect, the authorized, regulatory and administrative developments that happen on the federal, state and native ranges in response to the COVID-19 pandemic and the frequency and magnitude of authorized actions and legal responsibility claims that will come up resulting from COVID-19 or the Firm’s response efforts; and the opposite dangers and components recognized every so often within the Firm’s studies filed with the Securities and Alternate Fee. Moreover, projections are present estimates by the Firm and precise outcomes might differ materially from the projections.

Concerning the Firm

Dallas-based Sonida Senior Residing, Inc. is among the nation’s main operators of impartial dwelling, assisted dwelling and reminiscence care communities for senior adults. The Firm operates 75 communities which might be residence to almost 7,000 residents throughout 18 states offering snug, protected, reasonably priced communities the place residents can kind friendships, get pleasure from new experiences and obtain personalised care from devoted staff members who deal with them like household.

For extra info, go to www.sonidaseniorliving.com or join with the Firm on Fb, Twitter or LinkedIn.

View supply model on businesswire.com:https://www.businesswire.com/information/residence/20211216005655/en/

Kimberly Lody (972) 308-8323, [email protected]  

KEYWORD: INDIANA TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE CONSTRUCTION & PROPERTY SENIORS REIT OTHER HEALTH MANAGED CARE HEALTH CONSUMER RESIDENTIAL BUILDING & REAL ESTATE

SOURCE: Sonida Senior Residing, Inc.

Copyright Enterprise Wire 2021.

PUB: 12/16/2021 08:37 AM/DISC: 12/16/2021 08:37 AM

http://www.businesswire.com/information/residence/20211216005655/en

Copyright Enterprise Wire 2021.





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