LOS ANGELES—Welltower Inc. has greatly expanded its seniors housing presence in Northern and Southern California with a 19-property portfolio acquisition. CBRE Capital Markets' National Senior Housing team has arranged the sale on behalf of affiliates of Vintage Senior Living and their private investor partners for $1.15 billion, or approximately $445,000 per unit.

“This transaction represents one of the most significant portfolios of first-class, institutional-grade senior housing platforms on the West Coast,” says CBRE EVP Matthew Whitlock. “Concentrated in core markets in Northern and Southern California, many of the communities boast irreplaceable locations and will provide the new owner with an unmatched presence in the Greater Los Angeles and San Francisco Bay areas.” Along with EVP Lisa Widmier and vice chairman Aron Will, Whitlock represented the sellers.

The portfolio, which also includes a property in Tacoma, WA, will be operated by existing operating partners of Welltower. Senior Resource Group will operate 11 of the communities, Sunrise Senior Living will operate seven of the communities and Silverado will operate one community.

The 2,590-unit senior housing portfolio includes a combination of assisted living, independent living and memory care units.  Including its latest acquisition, Welltower owns 114 health care properties in California, and will be the largest owner of seniors housing properties in both Southern and Northern California.

When the agreement between Toledo, OH-based REIT and Vintage was announced in August, Welltower CEO Tom DeRosa said it “reinforces our high-quality health care real estate portfolio and leading presence in two of the top US metro markets. We have a unique platform for delivering operational improvements and driving value for our shareholders. Together with our operating partners, we are excited about the opportunities to provide the best senior care with a focus on wellness and innovation.”

LOS ANGELES—Welltower Inc. has greatly expanded its seniors housing presence in Northern and Southern California with a 19-property portfolio acquisition. CBRE Capital Markets' National Senior Housing team has arranged the sale on behalf of affiliates of Vintage Senior Living and their private investor partners for $1.15 billion, or approximately $445,000 per unit.

“This transaction represents one of the most significant portfolios of first-class, institutional-grade senior housing platforms on the West Coast,” says CBRE EVP Matthew Whitlock. “Concentrated in core markets in Northern and Southern California, many of the communities boast irreplaceable locations and will provide the new owner with an unmatched presence in the Greater Los Angeles and San Francisco Bay areas.” Along with EVP Lisa Widmier and vice chairman Aron Will, Whitlock represented the sellers.

The portfolio, which also includes a property in Tacoma, WA, will be operated by existing operating partners of Welltower. Senior Resource Group will operate 11 of the communities, Sunrise Senior Living will operate seven of the communities and Silverado will operate one community.

The 2,590-unit senior housing portfolio includes a combination of assisted living, independent living and memory care units.  Including its latest acquisition, Welltower owns 114 health care properties in California, and will be the largest owner of seniors housing properties in both Southern and Northern California.

When the agreement between Toledo, OH-based REIT and Vintage was announced in August, Welltower CEO Tom DeRosa said it “reinforces our high-quality health care real estate portfolio and leading presence in two of the top US metro markets. We have a unique platform for delivering operational improvements and driving value for our shareholders. Together with our operating partners, we are excited about the opportunities to provide the best senior care with a focus on wellness and innovation.”