Quarterly ResultMay 11, 2026, 07:37 AM
Sonida Senior Living Q1 Revenue +36.7% to $108.4M; Merger Costs Drive Loss
AI Summary
Sonida Senior Living announced its first quarter 2026 financial results, highlighted by a 36.7% increase in resident revenue to $108.4 million, largely driven by the recently completed $1.8 billion acquisition of CNL Healthcare Properties (CHP). While pro forma same-store occupancy and Community NOI showed strong growth, the company reported a net loss of $41.2 million, primarily due to $25.5 million in transaction, transition, and restructuring costs related to the CHP Merger. The company also detailed its financing structure for the merger, including Term Loans, a Revolving Credit Facility, and a reduced Bridge Facility.
Key Highlights
- Completed the acquisition of CNL Healthcare Properties (CHP) for approximately $1.8 billion on March 11, 2026.
- Resident revenue increased 36.7% to $108.4 million in Q1 2026, primarily due to the CHP Merger.
- Net loss attributable to shareholders was $41.2 million, compared to $12.5 million in Q1 2025, driven by $25.5 million in merger costs.
- Pro forma weighted average occupancy for the Same-Store Portfolio increased 220 basis points to 87.2%.
- Pro forma Community Net Operating Income (NOI) for the Same-Store Portfolio grew 14% to $48.0 million.
- Pro forma Adjusted EBITDA reached $48.0 million in Q1 2026, up from $43.8 million in Q1 2025.
- Secured $575 million in Term Loans and a $455 million Revolving Credit Facility for merger financing.
- Reduced the Bridge Facility to $170 million, with plans to refinance it by March 2027.