Transactions - JUNE 22, 2021

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

Welltower to buy Holiday Retirement’s seniors housing portfolio for $1.58b

by Andrea Zander

Welltower has entered into a definitive agreement to acquire a portfolio of 86 seniors housing properties, including 80 nearly identical independent living (IL) and six combination independent living/assisted living (IL/AL) properties, currently owned by Holiday Retirement.

Through this landmark transaction, the 86-property portfolio will be acquired by Welltower for $1.58 billion, or $152,000 per unit.

Additionally, as announced on June 21, 2021, upon the closing date of this transaction, which is expected to be in the third quarter 2021, Atria Senior Living will assume operations of the properties and retain Holiday's in-place senior management and staff.

Welltower and Atria anticipate implementing comprehensive value-add investment initiatives that include, but are not limited to:

Capital expenditure plan of $1.5 to $2.0 million per community, which is expected to drive higher revenue and operating margins in future years Larger scale re
Forgot your username or password?