December 6, 2018
Toledo, OH-based Welltower Inc. reported new off-market investment volume of $1 billion at a blended cap rate of 6.4% comprised of 11 separate seniors housing and MOB transactions. The seniors housing acquisitions consist of $725 million in transaction volume at a blended cap rate of 6.6% across four separate transactions. Three of these transactions build on relationships with existing Welltower operating partners.
The medical office acquisitions consist of $280 million in transaction volume at a blended cap rate of 5.9%. This granular activity includes one large, trophy outpatient medical complex with 286,000 square feet of space.
Welltower is under contract to acquire a 75% ownership interest in two state-of-the-art Class A+ MOBs under development in Charlotte, NC to be delivered in Q2 and Q3 of 2020. Both buildings are 100% master-leased to Atrium Health for 15 years.
Welltower will form a JV with Pappas Properties to explore additional opportunities to grow in the region.
*Pictured Pappas Midtown Medical Office Complex
For comments, questions or concerns, please contact Dennis Kaiser