TOLEDO, Ohio, Feb. 15, 2022 /PRNewswire/ -- Reuben Brothers (RB) and Welltower (NYSE: WELL)
today announced the formation of a long-term strategic partnership
in conjunction with Reuben Brothers'
acquisition of Avery Healthcare, one of Welltower's largest
operating partners and the Company's largest partner in the
United Kingdom. The 50/50
joint venture partnership is expected to generate significant
future growth opportunities through the development of the next
generation of seniors housing properties by leveraging Reuben Brothers' real estate investment and
development acumen and Welltower's unparalleled data analytics
platform and leadership within the seniors housing industry. This
transaction also positions Avery for superior growth to meet the
demand of an aging population in the UK.
Reuben Brothers, founded by
David and Simon Reuben, are highly
sophisticated global investors in private equity, venture capital,
infrastructure and prime real estate. Over the past decades, RB has
assembled a world class portfolio of irreplaceable real estate
through the acquisition of high-quality super-prime retail, office
and leisure properties in many of the world's most desirable
markets. RB has also been a pioneer in alternative real estate
investments through its early investment in Global Switch, a
premier network dense, carrier and cloud neutral data center
business.
The acquisition of Avery Healthcare, one of the United Kingdom's preeminent operators of
assisted living and care facilities, marks RB's initial investment
in the rental seniors housing and care home sector, serving as a
beachhead investment in an area of strategic growth. With
high-quality assets concentrated across Greater London, the Avery portfolio will
complement Reuben Brothers' existing
portfolio of existing real estate assets and prime land bank.
"We are delighted to announce this investment by Reuben Brothers which will improve our growth
prospects as well as enhance resident and employee experience,"
said John Strowbridge, CEO and
founder of Avery. "We started our partnership with Welltower
with a handful of properties in 2013. We are proud of our growth to
65 homes today and the platform we have built. Through our
continued partnership with Welltower, and now joined by
Reuben Brothers, the best days of
this company lie ahead."
"We are tremendously excited to announce our new partnership
with Reuben Brothers and their
strategic investment in the seniors housing industry through the
acquisition of Avery Healthcare," said Shankh Mitra, Welltower CEO
and CIO. "Reuben Brothers share our
vision and excitement for the unprecedented multi-year growth
opportunity in the seniors housing sector in the UK and the US, and
we look forward to working alongside their team to expand our
relationship. While many investors appropriately remain on the
sidelines due to a near-term focus on COVID-19, the exponential
multi-decade growth of the seniors population has begun after a
period of anemic population growth during the last decade. The
entry of Reuben Brothers, a highly
sophisticated global investor, into seniors housing, highlights the
attractiveness of the opportunity that is ahead of us. We also
thank John Strowbridge, our partner,
for outstanding leadership so far and going forward."
"Our investment in Avery Healthcare will be an exciting addition
to our portfolio of real estate and operating companies, as we
arrive at the precipice of unprecedented growth of the UK seniors
population," said David Reuben Jr.
"We are thrilled to be making this investment alongside Welltower
and their industry-leading data analytics platform. Together, we
are well-positioned to capitalize on an array of growth
opportunities as strong secular tailwinds drive exceptional demand
for seniors housing in the coming decades. We are proud to be part
of this platform that enhances the lives of a great number of UK
seniors by providing them high-quality care and an avenue for
social and cognitive interaction."
Forward-Looking Statement
This press release may contain "forward-looking" statements as
defined in the Private Securities Litigation Reform Act of 1995.
When Welltower uses words such as "may," "will,"
"intend," "should," "believe," "expect," "anticipate," "project,"
"estimate" or similar expressions that do not relate solely to
historical matters, it is making forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that may
cause Welltower's actual results to differ materially
from Welltower's expectations discussed in the
forward-looking statements. This may be a result of various
factors, including, but not limited to, those factors discussed
in Welltower's reports filed from time to time with
the SEC. Welltower undertakes no obligation to
update or revise publicly any forward-looking statements, whether
because of new information, future events or otherwise, or to
update the reasons why actual results could differ from those
projected in any forward-looking statements.
About Welltower
Welltower® Inc. (NYSE: WELL), an S&P 500
company headquartered in Toledo, Ohio, is driving the
transformation of health care infrastructure. The Company invests
with leading seniors housing operators, post-acute providers and
health systems to fund the real estate infrastructure needed to
scale innovative care delivery models and improve people's wellness
and overall health care experience. Welltower, a real estate
investment trust ("REIT"), owns interests in properties
concentrated in major, high-growth markets in the United
States, Canada and the United Kingdom, consisting of
seniors housing, post-acute communities and outpatient medical
properties. More information is available
at www.welltower.com.
About Reuben Brothers
Reuben Brothers is a leader in
private equity, real estate investment and development, and debt
financing. Our investments include racecourses, pubs, aerodromes,
media and data centres. Our resource heritage is today represented
through energy investments, shipping, metal warehousing and mining.
Our real estate holdings are significant in scale and broadly
diversified, encompassing office, retail, hotel, residential and
infrastructure properties across the world.
Our philanthropic arm, the Reuben Foundation, was formed in 2002
and makes essential contributions to the advancement of healthcare
and education worldwide. For further information on the Reuben
Foundation please visit www.reubenfoundation.com
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SOURCE Welltower Inc.