Sonida Announces Latest Asset Acquisition and Closing of Fannie Mae Maturity Modifications
Completes purchase of recently built senior living community in
Brings total 2024 acquired properties to 20 and total operating portfolio to 94 communities
Completes previously disclosed Fannie Mae loan modification extending maturities on
“Sonida ended the year with two additional transactions further positioning the company for success in 2025 and beyond. The Company continues to execute on its growth strategy through creative deal structuring and expansion of its best-in-class operating platform to aggressively and strategically invest in high-quality communities at exceptionally attractive valuations,” said Brandon Ribar, President and Chief Executive Officer. “With significant operational upside remaining in our current portfolio, a strong pipeline, and no material debt maturities on the horizon, we look forward to delivering on our commitment to accretive and sustainable growth with resident care and service at the center of our efforts.”
Capital Allocation – Senior Housing Community Acquisition in the Midwest
On December 31, 2024, the Company finalized the acquisition of a single senior living community located in
The community is strategically situated directly adjacent to Sonida’s existing
Sonida funded the transaction with
Proactive Debt Management – Completed Fannie Mae Loan Extension
In December 2024, the Company consummated the previously announced maturity extension of 18 individual mortgages (representing
Safe Harbor
The forward-looking statements in this press release, including, but not limited to, statements relating to the Company’s acquisitions, are subject to certain risks and uncertainties that could cause the Company’s actual results and financial condition to differ materially, including, but not limited to the Company’s ability to recognize the anticipated benefits of such acquisitions; the impact of such acquisitions on the Company’s business, including our ability to successfully implement integration strategies or achieve expected synergies and operating efficiencies; any legal proceedings that may be brought related to such acquisitions; our projections related to said acquisitions may not materialize as expected; and other risks and factors identified from time to time in the Company’s reports filed with the SEC, including the Company’s ability to generate sufficient cash flows from operations, proceeds from equity issuances and debt financings, and proceeds from the sale of assets to satisfy its short- and long-term debt obligations and to fund the Company’s acquisitions and capital improvement projects to expand, redevelop, and/or reposition its senior living communities; increases in market interest rates that increase the cost of certain of our debt obligations; increased competition for, or a shortage of, skilled workers, including due to general labor market conditions, along with wage pressures resulting from such increased competition, low unemployment levels, use of contract labor, minimum wage increases and/or changes in overtime laws; the Company’s ability to obtain additional capital on terms acceptable to it; the Company’s ability to extend or refinance its existing debt as such debt matures; the Company’s compliance with its debt agreements, including certain financial covenants, and the risk of cross-default in the event such non-compliance occurs; the Company’s ability to complete acquisitions and dispositions upon favorable terms or at all, including the possibility that the expected benefits and our projections related to such acquisitions may not materialize as expected; the risk of oversupply and increased competition in the markets which the Company operates; the Company’s ability to improve and maintain controls over financial reporting and remediate the identified material weakness discussed in its recent Quarterly and Annual Reports filed with the SEC; the cost and difficulty of complying with applicable licensure, legislative oversight, or regulatory changes; risks associated with current global economic conditions and general economic factors such as inflation, the consumer price index, commodity costs, fuel and other energy costs, competition in the labor market, costs of salaries, wages, benefits, and insurance, interest rates, and tax rates; the impact from or the potential emergence and effects of a future epidemic, pandemic, outbreak of infectious disease or other health crisis; and changes in accounting principles and interpretations.
About Sonida
For more information, visit www.sonidaseniorliving.com or connect with the Company on Facebook, X or LinkedIn.
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Investor Relations
Jason Finkelstein
IGNITION IR
ir@sonidaliving.com
Source: Sonida Senior Living, Inc.