Welltower will acquire 55 class A medical office buildings and outpatient facilities for $1.25 billion from CNL Healthcare Properties in the first half of 2019.
Here's what you should know:
1. The transaction will expand Welltower in 16 states.
2. The total rentable space of the 55 properties is 3.3 million square feet. The properties are currently 94 percent occupied.
3. Welltower has made several investments to expand its senior house and medical office space holdings. In December 2018, Welltower invested $1 billion in 11 senior housing and medical office transactions, Zacks reports.
4. CNL CIO Shankh Mitra said, "Welltower was able to act quickly and definitively when the opportunity presented itself, leveraging our proprietary data science platform and deep local presence through our real estate services platform to come to an agreement with CNL as a high quality and reputable sponsor."