October 12, 2016
Toledo, OH-based Welltower Inc. acquired a 19-property senior housing portfolio from Vintage Senior Living for $1.15-billion. The 2,590-unit portfolio includes a combination of Assisted Living, Independent Living and Memory Care units.
The acquisition solidifies Welltower’s top market share position in Los Angeles, and it gains the No. 1 position in San Francisco.
Eighteen of the communities are located in California, and one is in Washington. The portfolio will be operated by existing partners of Welltower, including Senior Resource Group, Sunrise Senior Living, and Silverado.
CBRE Capital Markets’ National Senior Housing team’s Matthew Whitlock, Lisa Widmier and Aron Will represented the sellers, affiliates of Vintage Senior Living and private investor partners. The buyer was self-represented.
Whitlock says, “This transaction represents one of the most significant portfolios of first-class, institutional-grade senior housing platforms on the West Coast.”
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