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Welltower Acquires Luxury Senior Housing Portfolio
Welltower, a Toledo, Ohio-based REIT, has agreed to acquire a portfolio of 38 luxury senior housing communities and nine development parcels from the Ontario Teachers’ Pension Plan for C$4.6 billion ($3.2 billion).
The portfolio is located within neighborhoods in Toronto, Vancouver and Victoria, and includes 31 existing communities comprised of 24 stabilized communities and seven recently opened properties still in lease-up.
Welltower will also form a long-term strategic partnership with Amica Senior Lifestyles, a Toronto-based operator of luxury senior housing. Amica will continue to manage the properties under a structured agreement, with Welltower also acquiring a minority interest in its management company.
The closing of the in-place portfolio and development parcels, which is expected in the fourth quarter of 2025, is subject to customary regulatory approvals. In January, Welltower agreed to buy NorthStar Healthcare Income, an owner of senior housing properties, in a deal valued at $900 million.
