Sonida Provides Updates on Acquisition and Capital Allocation Activity
Retrieved on:
木曜日, 5月 9, 2024
Nursing, Construction & Property, Seniors, Hospitals, Managed Care, Health, Consumer, General Health, Residential Building & Real Estate, Assisted living, Sale, Bulk density, Independent living, COVID, Risk, Report, Insurance, Growth, Lung compliance, ATM, Unemployment, Documentation, SNDA, Acquisition, Dislocation, Marketing, NOI, Senior living, Financial services
Sonida is acquiring the asset for $10.7 million at a 43% discount to the in-place senior mortgage loan and approximately $105k per unit.
Key Points:
- Sonida is acquiring the asset for $10.7 million at a 43% discount to the in-place senior mortgage loan and approximately $105k per unit.
- The completion of both joint venture acquisition opportunities is subject to several conditions, including the completion of satisfactory due diligence and the negotiation and execution of definitive acquisition agreements.
- Growth of management contracts with third-party owners allows Sonida to leverage its full suite of operational capabilities and enhance the Company’s return on invested capital with asset-light earnings growth.
- Sonida currently anticipates that the net proceeds will be used to fund future potential acquisition opportunities, capital expenditure projects, working capital and other general corporate purposes.