October 6, 2020
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.