Welltower Announces Strategic Joint Venture Partner For Sunrise E. 56th Street And Collaboration With Simon
December 28, 2017
TOLEDO, OH–A message from Tom DeRosa, CEO, Welltower Inc. (NYSE: HCN): “In 2017, Welltower 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 s 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.”
