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October 6, 2020 Comments Off on Welltower Cuts $1.3B of Portfolio Deals Views: 922 Midwest, National News, Ohio

Welltower Cuts $1.3B of Portfolio Deals

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Welltower Inc. said Monday it had expanded its relationship with leading institutional real estate investors through three portfolio sales with a combined valuation of $1.3 billion. They included the following:

• In mid-September, Toledo, OH-based Welltower closed on the sale of an 11-property seniors housing operating portfolio for $702 million. The properties are located in California, Washington and Nevada.

• Separately, Welltower announced a $402-million joint venture partnership with Invesco Real Estate, with Welltower retaining a 15% economic interest. The JV comprises 20 outpatient medical buildings.

• Welltower is under contract to sell a Massachusetts seniors housing portfolio for $200 million.

“As we’ve demonstrated through a series of transactions in recent months, our ability to execute large-scale dispositions at compelling prices during an unprecedented period is a testament to the desirability of Welltower’s high-quality assets, the strength of our partnerships, and our execution capabilities,” said CEO Shankh Mitra, who’s succeeding Thomas DeRosa.

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