Welltower announced that it intends to implement a holding company reorganization that would structure Welltower as an Umbrella Partnership REIT, or UPREIT.
In the reorganization, a new holding company (New Welltower) will become the publicly traded parent company and will inherit the name Welltower Inc.
The current real estate investment trust (Old Welltower) will exist as a wholly owned subsidiary of New Welltower initially called Welltower OP Inc. and, subject to approval of New Welltower’s shareholders, convert to a Delaware limited liability company, Welltower OP LLC (the LLC Conversion).
“We are pleased to avail ourselves of this corporate structure, better aligning us with the REIT industry, which will enhance our ability to compete in the acquisition of real estate assets. The conversion, once approved, is a seamless process which will have no impact on our existing shareholders, debt security holders, lenders or other constituencies,” said Shankh
