Welltower to buy MOB portfolio for $1.3b

Welltower and CNL Healthcare Properties have entered into a definitive agreement under which Welltower will acquire a class A medical office and outpatient facilities portfolio comprised of 55 buildings from CNL Healthcare Properties for $1.25 billion.

The sale is expected to close during the first half of 2019.

Welltower will be acquiring 55 assets out of the 63 properties (medical office buildings, post-acute care facilities and specialty hospitals) initially marketed by CNL Healthcare Properties through its strategic financial advisers. The 55 properties have a current occupancy of 94 percent and average annual rent increases of 2.4 percent.

“Through the strategic acquisition of 55 high-quality medical office buildings from CNL Healthcare Properties, we continue to accretively expand our outpatient medical and health system portfolio,” said Shankh Mitra, Welltower’s CIO. “Welltower was able to act quickly and definitively when the opportunity presente