CNL Healthcare Properties, Inc.

Overview

Deal Type Mergers & Acquisitions
Size $3.3 Billion
Combined Value
Client & Transactional Partners CNL Healthcare Properties, Inc.
Sonida Senior Living, Inc.
Our Role Exclusive Sell-Side Advisor

Summary

On March 11, 2026, Sonida Senior Living, Inc. (Sonida), one of the largest, pure-play owner-operators and investors in U.S. senior living communities, announced the completion of its merger with CNL Healthcare Properties, Inc. (CHP), a real estate investment trust that owns a national portfolio of high-quality senior housing properties. Sonida acquired 100% of CHP in a cash and stock transaction valued at approximately $1.8 billion. The common stock of the combined company will trade under Sonida's existing ticker symbol “SNDA” on the NYSE. KeyBanc Capital Markets served as Exclusive Sell-Side Advisor to CHP. 

CNL Healthcare Properties is a real estate investment trust focused on institutional-quality senior housing holdings, including stabilized, value-add and ground-up development assets. 

Sonida Senior Living is one of the largest, pure-play owner-operators and investors in U.S. senior living communities, with a focus on independent living, assisted living and memory care communities and services for senior adults. Sonida provides compassionate, resident-centric services and care as well as engaging programming at its senior housing communities.

KeyBanc Capital Markets is a trade name under which the corporate and investment banking products and services of KeyCorp and its subsidiaries, KeyBanc Capital Markets Inc., Member FINRA/SIPC (“KBCMI”), and KeyBank National Association (“KeyBank N.A.”), are marketed. Securities products and services are offered by KeyBanc Capital Markets Inc. and its licensed securities representatives. Banking products and services are offered by KeyBank N.A.

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