An affiliate of Qatar Investment Authority (QIA) has made a $300 million investment in Welltower’s common stock and has an option to acquire an interest in a development pipeline of urban senior living communities.
In other news, Welltower made $1 billion in new off-market investments, involving 11 separate senior housing and medical office transactions.
The newly announced acquisitions include four separate senior housing transactions totaling $725 million were completed. Three of the transactions involve existing operating partners of the Toledo, Ohio-based REIT. The medical office acquisitions total $280 million in transaction volume at a blended cap rate of 5.9 percent.
As part of the medical office investments, Welltower is under contract to acquire a 75 percent ownership stake in two MOBs under development in Charlotte. The buildings are set to be delivered in the second and third quarters of 2020 and are master-leased to Atrium Health; they are part of a health care-anchored mixed-use development next to Atrium’s Carolina’s Medical Center campus. Welltower is forming a joint venture with Charlotte-based real estate developer Pappas Properties as part of this transaction and is exploring further opportunities to expand the partnership with projects in the Southeast.
