Sonida Senior Living Inc

Sonida Senior Living reported strong second quarter 2026 results, with same-store weighted average occupancy up 240 basis points year over year to 87.8% and same-store community net operating income growing 16.9% with margin expanding 250 basis points to 32.6%. Total portfolio normalized FFO per share was $0.48, and the company completed a $380 million five-year term loan with Ally Bank on August 7 to refinance debt and extend maturities. As previously disclosed, the company completed its acquisition of CNL Health Properties Inc, or CHP, on 03/11/2026, and 14 communities, more than a quarter of the CHP SHOP portfolio, transitioned to Sonida management as of July 1. The company is under contract to acquire approximately $88 million of assets expected to generate mid-teens unlevered IRR and accretion to normalized FFO and NAV per share.

Sonida Senior Living announced it is under contract to acquire approximately $88 million of assets expected to generate a mid-teens unlevered IRR and be accretive to normalized FFO and NAV per share on a stabilized basis. On a same-store basis, weighted average occupancy rose 240 basis points year-over-year to 87.8%, while same-store community NOI grew 16.9% with NOI margin expanding 250 basis points to 32.6%. Total portfolio normalized FFO per share reached $0.48 with adjusted EBITDA of $50 million. The company also introduced Anton Nikodemus as Chief Operating Officer and disclosed that 14 communities, more than a quarter of the CHP SHOP portfolio, have transitioned to Sonida management. Management indicated a goal to start issuing full-year 2027 guidance and sees low-to-mid-90s occupancy as very achievable over the longer term.