from SNL Real Estate Daily
Welltower to acquire 3 US senior living portfolios in $548M deal
Byline: Maera Tezuka
Welltower Inc. will buy three senior living portfolios across 33 communities throughout Michigan, Ohio and Tennessee from an undisclosed seller for about $548 million.
StoryPoint Senior Living will be the operating partner for the portfolios consisting of 2,787 units, of which approximately three-quarters are assisted living and memory care and the remainder accounts for independent living.
Welltower is expected to finance the transaction through the issuance of operating partnership units, assumed debt and cash on hand. The deal is subject to customary closing conditions.