December 6, 2018 Comments Off on Welltower Completes $1B in New Off-Market Investments Views: 2867 National News, North Carolina, Top National

Welltower Completes $1B in New Off-Market Investments

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

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