Welltower Inc. (NYSE:WELL) entered into a definitive agreement to acquire 25 purpose-built active adult communities in Pacific Northwest from Affinity Living Communities for approximately $970 million on February 13, 2024. The acquisition is expected to be funded through cash on hand and the assumption of $523 million of below-market rate debt with an average interest rate of 3.8% and a nine-year weighted average maturity. The implied purchase price of approximately $249,000 per unit, which doesn't allocate any value to the below-market debt.
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- Welltower Inc. entered into a definitive agreement to acquire 25 purpose-built active adult communities in Pacific Northwest from Affinity Living Communities for approximately $970 million.