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News Release: Welltower Announces Strategic Joint Venture Partner For Sunrise E. 56th Street And Collaboration With Simon

  • Secures major institutional JV partner for Sunrise East 56th Street
  • Announces innovative outpatient development at a premier shopping and dining destination in Mission Viejo, CA
  • Announces appointment of Mark Shaver, SVP Strategy

The Shops at Mission Viejo (Photo courtesy of Simon)

A message from Tom DeRosa, CEO:
“In 2017, took major strides in optimizing its industry leading health care real estate platform.  Welltower is committed to leading innovation in health care delivery by bringing together efficient capital and modern, next generation real estate to the best in class senior living and heath care services providers as well as major health systems.  As the entire health care continuum moves to lower cost settings, while striving to connect more closely with the health care consumer, Welltower’s singular strategy has never been more vital.  In 2017 we took the opportunity to dramatically enhance the quality of our assets and our human capital, while de-levering our balance sheet and significantly reducing corporate overhead. Why did we do this?  Because, we have never been more optimistic about our business and our ability to drive shareholder value.

As we close out the year, I want to highlight some of the recent milestones that underscore our optimism:

The Shops at Mission Viejo –We are delighted to announce that we are bringing world class outpatient care to this dynamic location in collaboration with Simon, a global leader in the ownership of premier shopping, dining, entertainment and mixed-use destinations, in the form of a 105,000 Rental Square Foot outpatient center. This center will focus on cancer care but also include an array of health and medical services in partnership with the local health system that has a hospital located adjacent to the site. This represents the first time a major health system, a health care REIT, and Simon have collaborated to bring health care to a vibrant destination like The Shops at Mission Viejo.

Manhattan Development – Welltower, in partnership with Hines, has closed with a major institutional investor on a Limited Partnership interest for the development site at 56th Street and Lexington Avenue in Manhattan. This represents the first time a major investor of this type has invested in the development of an urban senior living building along with a world class real estate developer and a health care REIT.  This further indicates that health care real estate is becoming the next core, institutional asset class.

Mark Shaver to Join Executive Team from Johns Hopkins – On January 3, 2018, Mark Shaver, VP of Business Development and Strategic Alliances at Johns Hopkins Medicine, will join Welltower as SVP, Strategy. Mark brings over 20 years of experience driving strategic initiatives for one of the world’s leading health systems and will work across the Welltower platform to drive collaboration with health systems, heath care services providers, payors and technology companies.  Mark’s experience, energy and reputation will most definitely enhance our strategy and we at Welltower could not be more excited to welcome him into our family.

It is my sincere hope that you and all those close to you have a most happy, safe and healthy New Year.”

About Welltower

Welltower Inc. (NYSE: HCN), an S&P 500 company headquartered in Toledo, Ohio, is driving the transformation of health care infrastructure. The company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people’s wellness and overall health care experience.  Welltower™, a real estate investment trust (“REIT”), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing and post-acute communities and outpatient medical properties. More information is available at www.welltower.com.

Forward-Looking Statements and Risk Factors

This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. When Welltower uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. In particular, these forward-looking statements include, but are not limited to, those relating to Welltower’s opportunities to acquire, develop, or sell properties; Welltower’s ability to close anticipated acquisitions, investments, or dispositions on currently anticipated terms, or within currently anticipated timeframes; the expected performance of Welltower’s operators/tenants and properties; and Welltower’s investment and financing opportunities and plans. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower’s actual results to differ materially from its expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to: the status of the economy; the status of capital markets, including availability and cost of capital; competition within the health care and seniors housing industries; negative developments in the operating results or financial condition of operators/tenants, including, but not limited to, their ability to pay rent and repay loans; the failure to make new investments or acquisitions as and when anticipated; natural disasters and other acts of God affecting Welltower’s properties; operator/tenant or joint venture partner bankruptcies or insolvencies; the cooperation of joint venture partners; unanticipated difficulties and/or expenditures relating to future investments or acquisitions; and other risks described in Welltower’s reports filed from time to time with the Securities and Exchange Commission. Finally, Welltower undertakes no obligation to update or revise publicly any forward-looking statements, whether because of new information, future events, or otherwise, or to update the reasons why actual results could differ from those projected in any forward-looking statements.

SOURCE Welltower Inc.

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