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Welltower Buys NYC Medical Offices Under New JV With Aspect Health

The portfolio is 98% occupied and 100% triple-net leased to hospitals and physician groups.

By Les Shaver | August 02, 2021 at 07:14 AM

Welltower has acquired a portfolio of six Class A medical office buildings and properties under construction across in-fill markets in the New York City metro area under a newly formed joint venture with Aspect Health for a pro-rata investment amount of $98 million. In addition, the JV will have a ten-year exclusivity agreement on future development opportunities in the NYC metro area.

The investment is part of Welltower’s new strategic joint venture with Aspect Health, a fully-integrated real estate developer, property manager, investor and advisor focused on healthcare strategy and real estate development. The partnership will combine Aspect Health’s expertise in design and development and Welltower’s data analytics platform.

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