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KeyBanc Capital Markets acts as financial advisor to CNL Healthcare Properties in merger of company with Sonida Senior Living, Inc.

November 2025

Client(s) KeyBanc Capital Markets

Jones Day is advising KeyBanc Capital Markets as exclusive financial advisor to CNL Healthcare Properties, Inc. ("CHP") in the acquisition of CHP by Sonida Senior Living, Inc., a leading owner and investor in senior living communities, in a cash and stock transaction valued at approximately $1.8 billion. As a combined enterprise, Sonida expects to have an equity market capitalization of approximately $1.4 billion and a total enterprise value of approximately $3.0 billion upon closing.

The combined company, which will continue to trade on the NYSE under the ticker "SNDA", will be uniquely positioned in the public markets as a pure-play senior housing owner-operator platform, with a combined portfolio of 153 owned independent living, assisted living and memory care senior living communities.

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