TOLEDO, Ohio, March 6, 2022 /PRNewswire/ -- A joint
venture between Related Companies and Atria
Senior Living (the "Related|Atria JV"), in conjunction with
Welltower Inc. (NYSE: WELL), this quarter signed a strategic
partnership to develop two world class senior living communities in
Silicon Valley, one in Santa Clara,
CA ("Santa Clara Development") and the other in Cupertino, CA ("Cupertino Development"), as
part of a larger strategic partnership among the three companies.
The Related|Atria JV was formed in 2018 to develop, own and operate
modern urban communities catering to seniors living in major
metropolitan areas. The Santa
Clara and Cupertino Developments will be the third and
fourth locations for the joint venture's new series of upscale
senior living communities after the newly opened Coterie Cathedral
Hill at 1001 Van Ness in San
Francisco and Coterie Hudson Yards at 451 10th Avenue in
New York City which will open
later in 2022.
The 191-unit Santa Clara Development is immediately adjacent to
a larger fully entitled 9.2 million square foot urban development
by Related who commenced entitlement and pre-development work
on the urban plan in 2015. Related Santa Clara will create an
unparalleled new mixed-use downtown for Silicon Valley, consisting
of traditional office and medical office buildings, hotel rooms,
multifamily housing and retail amenities. At the apex of Silicon
Valley and the growing East Bay, the Santa Clara Development is
conveniently located to numerous commuting options, including a
wide variety of public transit and proximity to Highways 237, 101
and Interstate 880. The senior living development is expected to
break ground mid- 2022 with completion projected by 2024.
Pre-development of the 158-unit Cupertino Development began in
2019 with plans of construction start by the end of 2022 and
completion in 2024. Situated on a well-located corner of Stevens
Creek Boulevard, Cupertino's major
thoroughfare and State Route 85, as well as adjacent to the
Cupertino Senior Center, Cupertino Memorial Park, and De Anza College, this development will grant
seniors unrivaled access to the best of Cupertino's amenities with convenient
connectivity to Silicon Valley. The Cupertino Development will also
include an outdoor community park.
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
and post-acute communities and outpatient medical properties. More
information is available at welltower.com. We routinely post
important information on our website at welltower.com in the
"Investors" section, including corporate and investor presentations
and financial information. We intend to use our website as a means
of disclosing material, non-public information and for complying
with our disclosure obligations under Regulation FD. Such
disclosures will be included on our website under the heading
"Investors." Accordingly, investors should monitor such portion of
the company's website in addition to following our press releases,
public conference calls and filings with the Securities and
Exchange Commission. The information on our website is not
incorporated by reference in this press release, and our web
address is included as an inactive textual reference only.
ABOUT RELATED COMPANIES:
Related Companies is a global real estate and lifestyle company
defined by innovation and the most prominent privately-owned real
estate firm in the United States.
Formed over 45 years ago, Related is the largest private owner of
affordable housing and a fully-integrated, highly diversified
industry leader with experience in virtually every aspect of
development, acquisitions, management, finance, marketing and
sales. Headquartered in New York
City, Related has offices and major developments in
Boston, Chicago, Los
Angeles, San Francisco,
South Florida, Washington, D.C., Abu Dhabi and London, and boasts a team of approximately
4,000 professionals. Related was recently named to Fast
Company Magazine's list of the 50 Most Innovative Companies in
the World. For more information about Related, please
visit www.related.com.
ABOUT ATRIA:
Atria Senior Living is a leading
operator of independent living, assisted living, supportive living
and memory care communities in more than 400 locations in 45 states
and seven Canadian provinces. With the addition of Holiday
Retirement to its portfolio in 2021, Atria is now the residence of
choice for more than 43,000 older adults, and the workplace of
choice for more than 17,000 employees. In 2022, J.D. Power ranked
Atria #1 in customer satisfaction among assisted living and memory
care communities. Atria creates vibrant communities where older
adults can thrive and participate, know that their contributions
are valued, and enjoy access to opportunities and support that help
them keep making a positive difference in our world. Atria operates
seven distinct senior living brands: Coterie a luxury brand in a
joint venture with Related Companies, Atria Signature, Atria Senior Living, Atria Park, Holiday Retirement, Atria Retirement
and Gladwell. Atria's subsidiary, Glennis Solutions, is the only
fully integrated cloud-based software suite specifically designed
to serve the senior housing industry.
For more information about Atria, visit AtriaSeniorLiving.com or
follow them on Facebook, Twitter and Instagram. For career
opportunities and more information about working for Atria, visit
AtriaCareers.com. For more information on Glennis Solutions, visit
GlennisSolutions.com. For more information about Holiday
Retirement, visit HolidaySeniorLiving.com.
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
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SOURCE Welltower Inc.