Connect Media > New York News > Top New York > Wafra, Welltower in $500M Medical Office JV
medical

December 16, 2020 Comments Off on Wafra, Welltower in $500M Medical Office JV Views: 816 New York News, Top New York

Wafra, Welltower in $500M Medical Office JV

Order Reprints...

Wafra Inc., a global alternative investment platform headquartered in Manhattan, and healthcare REIT Welltower Inc. said Tuesday they had formed a $550-million joint venture partnership between Welltower and certain vehicles managed by Wafra. The venture comprises a 24-property portfolio of medical office buildings across a diverse mix of geographies.

The portfolio was previously wholly owned by Welltower and is 97% affiliated with health systems. Through the JV, the Wafra vehicles will own 80%, and Welltower will retain a 20% economic interest in the portfolio while continuing to serving as asset manager and operator.   

“Building on Welltower’s demonstrated track record, we see compelling opportunities to realize shared success through this partnership,” said Russell Valdez, Wafra’s CIO. “We look forward to expanding our footprint together in these growing sectors with the shared goal of further collaboration on healthcare and other real estate opportunities.”

Connect With Wafra

Connect With Welltower


Get CRE News in 150 words

For comments, questions or concerns, please contact Paul Bubny

Tags: , ,

Comments are closed.