Ropes & Gray advised the Special Committee of the Board of Directors of CNL Healthcare Properties (CHP), in the merger agreement with Sonida Senior Living, a leading owner, operator and investor in senior living communities, pursuant to which Sonida will acquire CHP in a cash and stock transaction valued at approximately $1.8 billion. As a combined enterprise, Sonida expects to have a total enterprise value of approximately $3 billion. The transaction was announced on November 5.
CNL is a public non-traded real estate investment trust (REIT) which owns a national portfolio of high-quality senior housing communities. The combination of CHP and Sonida will create one of America’s largest senior housing companies.
The Ropes & Gray team included mergers & acquisitions partner Sarah Young and litigation & enforcement partner Jeff Bushofsky.
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