Sonida Adds 2 Atlanta-Area Sr. Housing Assets

Sonida Senior Living Inc. paid $29 million for two senior living communities in the Atlanta area. The sale totals 178 units.

The assets have an average occupancy rate of 86% and average revenue per occupied room of more than $5,700. The deal will also give Sonida three assets in the Atlanta market. (Waterford at Decatur shown). Sonida intends to fund the transaction with cash on its balance sheet and proceeds from its senior secured revolving credit facility. 

The acquisition is the second purchase the company has announced in the past three months. Sonida also closed on a $102.9 million purchase of an eight-asset senior housing portfolio with 555 units across northern Florida and South Carolina. Once the purchase of the two additional communities closes, Sonida will have added 19 communities so far this year.  

The Company closed on an additional $75 million commitment under the senior secured revolving credit facility it entered with BMO Bank N.A.