Real estate investment trust Welltower (NYSE: WELL) has reached a definitive agreement to sell a senior housing portfolio for more than $740 million. The Toledo, Ohio-based company announced the transaction in its Q4 and full-year 2019 earnings release on Wednesday, but did not disclose which operating company is involved. Welltower declined to provide further details to Senior Housing News. “In January 2020, we entered into a definitive agreement to sell a prominent seniors housing operating portfolio in the western United States for a gross sale price exceeding $740 million,” the earnings release states. “This portfolio consists of assisted living properties located in California, Nevada and Washington. The portfolio has occupancy of 97% and achieved NOI of $36.7 million in 2019.”
Read the full article: Welltower to Sell Senior Living Portfolio for More Than $740M //
Source: https://seniorhousingnews.com/2020/02/12/welltower-to-sell-senior-living-portfolio-for-more-than-740-million