Welltower Announces Initial Closing of Real Estate Joint Venture with Integra Health

Rhea-AI Summary

Welltower Inc. (NYSE: WELL) has announced the initial closing of a joint venture with Integra Health, involving a master lease for a portfolio of 147 skilled nursing properties. The business plan involves sub-leasing the entire portfolio to around 15 established regional operators known for their successful track records. This strategic move is aimed at enhancing the company's position in the healthcare infrastructure sector, which focuses on improving care delivery and overall health experiences.

Positive

• Welltower enters a master lease for 147 skilled nursing properties.
• Strategic plan to sub-lease to approximately 15 established operators.
• Enhances Welltower's position in healthcare infrastructure.

Negative

• None.

• Integra Health Enters Into Master Lease for 147-Property Skilled Nursing Portfolio
• Integra Health To Execute on Business Plan to Sub-Lease Entire Portfolio to Approximately 15 Established Regional Operators With Proven Track Records

TOLEDO, Ohio, Dec. 23, 2022 /PRNewswire/ -- Welltower® Inc. (NYSE: WELL) – In conjunction with the initial closing of the Integra Health joint venture, previously announced on November 7^th, Welltower has issued the following presentation, which can be found at:

https://welltower.com/december2022-transaction-update

About Welltower

Welltower^® Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate and infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. Welltower, a real estate investment trust ("REIT"), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. More information is available at www.welltower.com.

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SOURCE Welltower Inc.

FAQ

What recent transaction did Welltower announce?

Welltower announced the initial closing of a joint venture with Integra Health for a master lease of 147 skilled nursing properties.

How many properties are involved in Welltower's master lease with Integra Health?

The master lease involves 147 skilled nursing properties.

What is the purpose of Welltower's joint venture with Integra Health?

The joint venture aims to sub-lease the portfolio to about 15 established regional operators to enhance healthcare delivery.

When was the press release about Welltower's joint venture issued?

The press release was issued on December 23, 2022.

What is the significance of Welltower's partnership with Integra Health?

The partnership is significant as it strengthens Welltower's healthcare infrastructure and investment in skilled nursing facilities.