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Welltower grows earnings and expands senior housing portfolio
The REIT said it closed an approximately $459 million Canada development acquisition, with expected completion in 2027.
Welltower reported stronger financial results and continued balance sheet improvement in the second quarter of 2026, according to Commercial Observer. On a Tuesday earnings call, the senior and assisted living REIT outlined both acquisitions and a major disposition tied to its outpatient medical property portfolio.
The company said it acquired the Amica Senior Lifestyles portfolio, comprising 38 communities for $1.91 billion. It also disclosed the sale of $7.2 billion in outpatient medical properties.
Welltower added more growth through a Canada transaction, Commercial Observer reported. On July 2, the REIT closed on a deal to acquire five properties under development in Canada for about $459 million, with completion expected in 2027.
Overall, Welltower said it invested $9.5 billion across the U.S., Canada, and the U.K. since the start of the year. Financially, funds from operations rose to $1.60 per share in the second quarter from $1.28 per share a year earlier, while revenue increased to $3.54 billion from $2.55 billion, and net income rose to $12.2 billion from $10.6 billion, Commercial Observer added.