Recent local news reports suggest that Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL) has sold its stake in all 10 communities in its senior housing operating portfolio operated by Seattle-based Merrill Gardens. Public records in Santa Clara County, California, show that Welltower recently sold a Merrill Gardens community located in San Jose and another located in the town of Gilroy, the Silicon Valley Business Journal reported last week. The price tag on those two properties reportedly was more than $111 million, with Merrill Gardens itself listed as the buyer. A separate news report on Sept. 25 from the Daily Journal of Commerce reported that Merrill Gardens and partner AEW Capital Management were buying up Welltower’s stake in the entire 10-property portfolio.
Read the full article: Welltower Reportedly Sells Merrill Gardens Portfolio for About $700M //
Source: https://seniorhousingnews.com/2020/09/28/welltower-reportedly-sells-merrill-gardens-portfolio-for-about-700-million