Toledo, Ohio, March 2, 2025 /prnewswire/ -welltower Inc. (NYSE: well) (“welltower” or “company”) today announced it will acquire a 38 ultra-dairy elderly housing community and a nine-qualified portfolio. $4.6 billion. The irreplaceable trophy portfolio is located within the very wealthy areas of Toronto, Vancouver and Victoria. In relation to the transaction, Welltower has also announced the formation of a long-term strategic partnership with Amica Senior Lifestyles (“Amica”), a homeowner/operator in a luxury community with a large track record of category-defining luxury communities through excellent operational and development insights.
“We are pleased to announce the acquisition of the Amica portfolio, the highest quality senior housing portfolio in North America,” said Shankh Mitra, CEO of Welltower. “These communities will participate in the top tier of the Well Tower Portfolio, reflected in their most desirable region locations and ultra-luxurious amenities and finishes across Canada. Against the backdrop of rapidly growing demand and limited new supply, we look forward to the portfolio fostering massive revenue and cash growth over the next few years.” Mitra said, “We are excited to announce the creation of a long-term partnership with the Amica Management team. Robert Ezer, co-founder of AmicaSenior Lifestyles and CEO Jens Cermak shares our vision of providing killer value propositions for residents through premium hospitality and care delivery and providing a dynamic environment for employees.
The deal includes 31 in-place properties, consisting of 24 stable communities and 7 recently opened properties. In-place properties are obtained at a significant discount on estimated exchange costs. The stable Amica assets have demonstrated significant pricing power over the past five years, with better growth than Welltower’s overall SHO portfolio. Through long-term strategic partnerships, Welltower and Amica are paving the way for a significant future expansion of targeted ultra-luxurious vision products in Toronto, Vancouver and Victoria areas, and through ongoing management of Amica’s properties under a highly aligned Ridea 5.0 contract.
In addition to the in-place portfolio, Welltower plans to acquire seven properties currently under construction that are meticulously curated throughout the development timeline, which has been extended over nearly a decade. Construction shortages will be acquired upon achievement of the certificate of occupancy, which is expected to occur in stages between 2025 and 2027. This structure allows Well Tower to eliminate development risks, but the company can own trophy assets with a trend-stabilized average rotation of over 12,000. The nine development parcel plans to acquire are located in very wealthy and supply-restricted neighborhoods, qualified through an average of over 5 years of elongated and tedious processes, offering the Well Tower a considerable option of the future.
Amica’s community provides ongoing care, including independent living, support for living, memory care, allowing residents to age appropriately and promotes stays for an average length of 3-4 years. With an unparalleled track record in managing and developing luxury elderly housing communities and the focus of Canada’s senior housing industry on independent living, Amica can succeed in very wealthy areas, providing the unmet needs of a rapidly aging population through the provision of higher vision. As part of the transaction, Welltower will gain a small number of interest in Amica’s highly regarded management company, with the Amica Management team owning the majority profits and further adjustments.
“We are thrilled to announce our long-term partnership with Welltower, who shares our passion for providing high quality care and services to seniors. We also believe we will be a key beneficiary of Welltower’s industry-leading data science capabilities that will help us expand our platform. “Our premium community appeals to a wealthy and sophisticated population across Canada, where seniors are empowered to live in freedom, optimism and peace of mind. Our portfolio has witnessed exceptional growth in recent years, and we strongly believe that this momentum can be well in the future.”
Subject to customary regulatory approval upon the closure of its in-place portfolio and development zones expected in the fourth quarter of 2025, Welltower expects CMHC Insurance’s $560 million liability, an average interest rate of 3.6%, and a four-year weighted average maturity obligation.
About Well Tower
Welltower Inc. (NYSE: WELL), a Real Estate Investment Trust (“REIT”), headquartered in Toledo, Ohio, and S&P 500 companies, are driving transformation of healthcare infrastructure. Welltower invests in leading elderly housing operators, acute providers and healthcare systems to expand innovative care delivery models and fund the real estate infrastructure needed to improve people’s health and overall healthcare experience. Welltower owns real estate interests that are concentrated in major high-growth markets in the US, Canada and the UK.
Forward-looking statements
This press release contains “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. If Welltower uses words such as “will,” “expectations,” or similar expressions that are not only related to historical issues, Welltower has made a forward-looking statement. Forward-looking statements do not guarantee future performance and involve risks and uncertainties that may differ materially from Welltower’s expectations discussed in the forward-looking statements of the Welltower. This may be the result of a variety of factors, including, but not limited to: The expected benefits of a transaction may not be realized when or at all as a result of integration of acquired properties into Welltower behavior or the consequences of integration or problems. Welltower’s ability to complete a long-term strategic partnership with Amica on currently anticipated terms or within the currently anticipated time frame, as well as the expected performance of the strategic partnership. Welltower assumes no obligation to publish or modify any forward-looking statements for new information, future events, or otherwise.
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