Welltower Inc. Acquires Seniors Housing Portfolio In Michigan, Ohio & Tennessee For $548M
SOLD
$548,000,000
Other2,787 SF
Sold 03/07/2022
SOLD
Welltower Inc. Acquires Seniors Housing Portfolio In Michigan, Ohio & Tennessee For $548M
Ohio, United States
See Similar DealsOther2,787 SF
Sold 03/07/2022
Summary
OHIO
Asset Type:Other
Price Per Square Foot:$196,627
Total Square Footage:2,787 SF
Transaction Type:Sale
Welltower Inc., represented by Shankh Mitra of the agency Shankh Mitra, has acquired the Seniors Housing Portfolio in Michigan, Ohio, and Tennessee. The portfolio consists of 2,787 units, with a sale price of $548,000,000, equating to an average price per unit of $196,627.
Summary of transaction details:
- Property Type: Seniors Housing
- Transaction Amount: $548,000,000
- Units: 2,787
- Price Per Unit: $196,627
- Buyer: Welltower Inc. - Shankh Mitra
- Market: Michigan, Ohio & Tennessee
Shankh Mitra of the agency Shankh Mitra represented Welltower Inc. in this acquisition. This purchase further expands Welltower Inc.'s presence in the seniors housing market, solidifying their position as a key player in the industry.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$29,226,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$1,946,928.24
Cash-on-Cash Return-1.27%
Monthly Debt Service$2,597,799.58
Annual Debt Service$31,173,594.92
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