Healthcare Infra REIT Welltower Launching Private Funds Biz, $2B First Fund

Healthcare and wellness infrastructure REIT Welltower is launching its own private funds management business and has secured a $400M anchor investment from Abu Dhabi Investment Authority for its first fund. 

Welltower said the new business will be used to explore and identify opportunities in US healthcare real estate investment across capital structures, focusing on “properties that are either stable or have a near-term path to stabilization,” with the use of the firm’s data-science platform. Initial investments will include a portfolio of six senior housing communities acquired in a $240M off-market deal, and an entity affiliated with the funds management business will have allocated its newly announced NorthStar Healthcare Income, which consists of a portfolio of 40 senior housing communities with an enterprise value of $900M. 

Welltower and its management team is also contributing $400M, or 20% of the LP capital, to match ADIA, suggesting a target size of $2B for the first fund. The firm said it has deployed nearly $20B of capital since the fourth quarter of 2020, primarily in senior housing properties. 

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Written By: Dakota

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