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Welltower Closes on $1.3B Medical Office Portfolio from CNL

As baby boomers age, medical properties continue to rise in popularity, with this sale reportedly being the second largest medical office portfolio sale based on total dollar volume.

Photo by Hush Naidoo on Unsplash Photo by Hush Naidoo on Unsplash

NEW YORK CITY—CNL Healthcare Properties sold a medical office portfolio of 55 buildings to Welltower Inc. for $1.25 billion. The portfolio comprises approximately 3.3 million square feet across 16 states positioned in strategic locations within major metropolitan markets. The facilities are affiliated with premier health systems including Novant, Memorial Hermann and Cleveland Clinic.  The deal was first announced in January 2019.

HFF Securities, L.P. and Holliday Fenoglio Fowler, L.P. advised CNL, a real estate investment trust that focuses on investing in seniors housing and healthcare. In 2018, HFF Securities was engaged as a strategic financial advisor to explore and execute potential liquidity alternatives for the REIT.

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Betsy Kim

Betsy Kim

Betsy Kim was the bureau chief, East Coast, and New York City reporter for Real Estate Forum and GlobeSt.com. As a lawyer and journalist, Betsy has worked as the director of editorial and content for LexisNexis Lawyers.com, a TV/multi-media journalist for NBC and CBS affiliated TV stations in the Midwest, and an associate producer at Court TV.

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