January 3, 2019
Toledo, OH-based Welltower Inc. agreed to buy a portfolio of Class A medical office and outpatient facilities comprised of 55 buildings from Orlando-based CNL Healthcare Properties for $1.25 billion. The sale is expected to close during the first half of 2019.
Welltower is acquiring 55 assets out of the 63 properties (medical office buildings, post-acute care facilities and specialty hospitals) initially marketed by CNL Healthcare Properties through its strategic financial advisors. The 55 properties have a current occupancy of 94% and average annual rent increases of 2.4%.
The properties are strategically located, and 92% are affiliated with some of the nation’s premier health systems including Novant, Memorial Hermann and Cleveland Clinic. With 3.3 million rentable square feet in major metropolitan markets across 16 states, Welltower says the acquisition portfolio will have significant overlap and synergies with its existing outpatient medical footprint.
*Pictured Claremont Medical Plaza, Claremont, CA
For comments, questions or concerns, please contact Dennis Kaiser