Welltower Inc., a real estate investment trust based in Toledo, has entered into an agreement to purchase a portfolio of 25 active adult communities from Affinity Living Communities for $969 million. The two companies will also establish a long-term strategic partnership.
The acquisition includes the assumption of $523 million in debt with an interest rate of 3.8 percent and maturity over nine years. The majority of the nearly 3,900 units are located in the Pacific Northwest and feature extensive amenity space averaging over 30,000 square feet.
This deal is part of Welltower’s strategy to expand its Wellness Housing portfolio into markets with projected growth rates for adults aged 55+ that are more than double the national average within five years. Shankh Mitra, CEO of Welltower stated, “Our Wellness Housing portfolio addresses the growing demand for rental housing focused on senior wellness.”
In March 2024 at Joe’s Live in Rosemont, Illinois , Connect Industrial Midwest will host its annual event showcasing industrial real estate trends and opportunities . For more information or to register click here .
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