Investors - AUGUST 1, 2019

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Welltower Partners with Balfour Senior Living, acquires $285m senior living portfolio

by Andrea Zander

Welltower has formed a new relationship with Colorado-based Balfour Senior Living.

Welltower and Balfour plan to enhance the high-end senior living experience by expanding upon Balfour’s best-in-class design and accommodations.

Welltower acquired a six-community portfolio located in the Denver and Boulder metropolitan statistical areas, including Balfour’s downtown Denver flagship community, Riverfront Park, and the recently developed Lavender Farms, which opened in April. The portfolio was acquired for $308 million in partnership with Balfour.

Balfour entered into Welltower’s next-generation management contract, creating optimal alignment between the partners. As part of the portfolio purchase, Welltower has received exclusivity on Balfour’s future acquisition and development pipeline, as well as an option to acquire up to a 34.9 percent interest in Balfour’s management company. Several development initiatives are currently under way in high-barrier-t

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