Home Featured Welltower Anticipates Increased Disposition Proceeds to $1.9B

Welltower Anticipates Increased Disposition Proceeds to $1.9B


In a challenging environment for seniors housing, Welltower delivered last quarter in line with its expectations and with positive same-store growth. So said CEO Tom DeRosa in the company’s Q1 report.

According to the healthcare REIT, the company, which completed $613 million of acquisitions and developments, including three of the previously announced rental CCRC communities in top markets managed by Sunrise Senior Living, in Q1, says that it plans to increase its disposition proceeds and plans to “continue to grow with our best-in-class partners through our relationship investing model,” according to DeRosa.

As for the company’s outlook for 2018, it says that net income attributable to common stockholders has been revised upward to a range of $2.55 to $2.65 per diluted share from the previous range of $2.38 to $2.48 per diluted share.

The company is updating its acquisition guidance for the remainder of the year to include $2.2 billion of investments anticipated to close at year end in addition to investment activity that has already been revealed. As far as development, the REIT anticipates funding development of approximately $229 million in 2018 relating to projects underway. Lastly, the company increased its anticipated disposition proceeds from $1.3 billion to $1.9 billion at a blended yield of 7.0% in 2018. This includes approximately $1 billion of proceeds from dispositions completed to-date and $0.9 billion of incremental proceeds from other potential loan payoffs and property sales.

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