TOLEDO, Ohio, July 29, 2021 / PRNewswire / – Well tower® Inc. (NYSE: WELL) today announced the formation of a new strategic joint venture with Aspect Health, a fully integrated real estate developer, janitor, investor and advisor focused on innovation in health strategy and real estate development. The partnership will bring together Aspect Health’s in-depth design and development expertise while leveraging Welltower’s data analytics platform to deliver the next generation of healthcare facilities that enhance the healthcare experience. patient and doctor. The joint venture partnership includes an investment in Aspect Health’s existing portfolio of six properties and a medical office building under construction that are located in a high barrier to entry markets in the New York City Metropolitan area. In addition, the companies have entered into a ten-year exclusivity agreement on future development opportunities. The existing portfolio consists of class A multi-tenant medical office buildings, including outpatient surgery centers, primarily developed by Aspect Health. The 98% occupied portfolio is 100% triple net leased to leading hospitals and physician groups with a weighted average lease term of around 12 years. Welltower and Aspect’s first development partnership will be a 60,000 square foot ambulatory medical building located just outside of New York City. The property will be leased primary to a leading healthcare system for 20 years and is expected to begin construction in early 2022.
“Our new strategic partnership with Aspect Health allows us to add a highly experienced healthcare real estate developer and operator to the largest New York City Region. Aspect Health’s depth of local relationships complements that of Welltower and our vision to bring innovation and transformation to healthcare real estate solutions is closely aligned, ”said Shankh Mitra, CEO and CIO of Welltower. “We are delighted to be working with Chris and Aspect. team and are excited to implement a number of long-term growth opportunities that will benefit all of our stakeholders. “
“We formed Aspect Health because we saw the need to deal with the rapid transformation that is causing dysfunction and inefficiencies at the intersection of healthcare and real estate,” said Christophe smith, CEO of Aspect Santé. Aspect Health advises healthcare leaders to leverage real estate as part of their overall business strategy by developing end-to-end solutions that go far beyond physical space. Smith continued, “Welltower’s strategic partnership and data analytics capabilities perfectly complement our consulting and concierge strategy to design and develop advanced healthcare facilities using the latest research and technology to deliver a significantly better overall experience. – not only for patients, but for healthcare providers. for them and the health systems that serve them. Welltower is the gold standard and provides a scale for the existing development platform. ”
This press release may contain “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 which do not relate only to historical matters, they are forward-looking statements. 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 Welltower’s expectations discussed in the forward-looking statements. This may be the result of various factors including, but not limited to, the factors discussed in Welltower’s reports filed from time to time with the SEC. Welltower assumes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future events or otherwise, or to update the reasons why actual results may differ from those projected in forward-looking statements.
About Aspect Health, LLC
Aspect Health is headquartered at Westport, Connecticut. and offers a vertically integrated range of full-service real estate solutions, including advisory, site selection, award, design, development and construction, acquisition, property and asset management services. The company is led by a management team with over 225 years of combined experience who have owned and managed over eight million square feet of healthcare, hotel, industrial, residential, commercial and office real estate. Aspect Health has a significant market share in its primary geographic region of Connecticut with a future strategic focus on expansion throughout the surrounding northeast region between new York and Boston. For more information, visit https://www.aspecthealthre.com.
About the well tower
Well tower® Inc. (NYSE: WELL), an S&P 500 company headquartered in Toledo, Ohio, is leading the transformation of healthcare infrastructure. The company invests with major operators of senior housing, post-acute care providers and healthcare systems to fund the real estate infrastructure needed to scale up innovative healthcare delivery models and improve welfare. being people and the whole experience of health care. Welltower, a real estate investment trust (REIT), owns interests in properties concentrated in key high growth markets in the United States, Canada and the United Kingdom, including senior housing, post-care communities. – acute and ambulatory medical properties. For more information, visit www.welltower.com.
SOURCE Welltower Inc.