Welltower expands New Jersey & Metro Philadelphia reach with $22M sale leaseback portfolio acquisition

Avison Young Philadelphia on Friday announced a $22 million sale lease back transaction of medical office space portfolio on behalf of both the buyer, Welltower, a national health care REIT, and seller, Mid Atlantic Retina (Wills Eye Surgeons), at 4060 Butler Pike, Plymouth Meeting, Pennsylvania and 8 Ranoldo Terrace, Cherry Hill.

Welltower was represented by Avison Young’s Principal Scott Martin, in assistance with the sale and lease negotiations on the Plymouth Meeting and Cherry Hill Locations with Mid Atlantic Retina, the seller, also represented by Martin.

“We are pleased to have worked with two dynamic companies in the national health care sector and proud that Welltower and Mid Atlantic Retina entrusted our regional and Sale Leaseback healthcare expertise to find the right real estate solution to meet their needs” Martin stated.

Welltower delivers the health care infrastructure necessary to facilitate better treatment at lower costs and keep patients out of the hospital. Its business is centered on a relationship-based investing platform and provides real estate capital to leading seniors housing operators, post-acute care providers and health systems. Through its capital, these companies are able to grow, innovate and ultimately provide better care.

Wills Eye Physicians-Mid Atlantic Retina has multiple easily accessible locations throughout the tri-state area, bringing advanced care and expertise closer to home.