Sonida Senior Living under contract to acquire approximately $88 million senior living properties portfolio

Sonida Senior Living is under contract to acquire approximately $88 million in senior living properties located in what the company describes as attractive markets with well-located buildings. The properties targeted have occupancy rates in the mid- to high-80s and are not fully stabilized, according to Sonida President and CEO Brandon Ribar. Sonida plans to apply its operating model to the assets, which the company acquired at pricing it views as attractive relative to replacement value. The company's acquisition pipeline extends beyond the $88 million currently under contract, with focus on markets including Dallas-Fort Worth, northern Florida, Atlanta, the Midwest, Mid-Atlantic, Virginia and the Carolinas.