December 16, 2020
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.”
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