Discovery Village at Dominion
TOLEDO, OHIO—Healthcare REIT Welltower has signed a $1 billion development agreement with Discovery Senior Living, as well as acquired a handful of facilities from the company along with a 6-building, 270,000 square foot medical office campus for $140 million from Summit Medical Group.
The exclusive development agreement focuses on two new projects that the companies are currently reviewing. That, however, is just one piece of a number of agreements struck by the two companies, which have a pre-existing relationship. “We are excited by the opportunity to expand a key operator relationship,” said Welltower's Chief Investment Officer Shankh Mitra, in prepared remarks.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
