Sonida Senior Living Reports 122% Revenue Growth Driven by CNL Healthcare Properties Acquisition

Sonida Senior Living, Inc. reported significant financial growth in its latest quarterly results, driven primarily by the recent acquisition of CNL Healthcare Properties, Inc. (CHP). For the three months ending June 30, 2026, the company generated total revenues of $207.6 million, a substantial increase of 122% compared to $93.5 million in the same period last year. Resident revenue alone surged to $188 million, up 130% from $81.8 million in the prior year, reflecting the addition of 54 senior housing operating properties from the CHP merger, alongside increased occupancy and average rent rates.

Despite the revenue growth, Sonida reported a net loss of $24.7 million for the quarter, compared to a loss of $2 million in the same quarter of 2025. The increase in losses was attributed to higher transaction, transition, and restructuring costs related to the CHP merger, which amounted to $4.8 million for the quarter. Additionally, general and administrative expenses rose to $14.4 million, up from $9.7 million, largely due to increased labor costs and stock-based compensation. The company also faced a significant rise in depreciation and amortization expenses, which reached $43.2 million, reflecting the expanded asset base post-merger.

Operationally, Sonida managed to increase its community net operating income to $56.1 million, a 164% increase from $21.2 million in the previous year. The company owned 152 senior housing communities as of June 30, 2026, with a total of 16,500 units across 35 states. The weighted average occupancy rate improved to 86.5%, up from 84.4% a year earlier, indicating a positive trend in resident engagement and utilization of services.

Looking ahead, Sonida's management expressed optimism about the integration of CHP's operations and the potential for enhanced operational efficiencies. The company has also secured additional financing, including a $372.5 million term loan from Ally Bank, which will be used to repay existing debts and support future growth initiatives. The company anticipates that the full impact of the CHP merger will significantly influence its financial performance for the remainder of 2026, as it continues to focus on expanding its footprint in the senior living market.