Welltower (NYSE:WELL) and Invesco (NYSE:IVZ) Real Estate form an $850M joint venture consisting of 35 medical office buildings adding up to 2.6M square feet.
The portfolio was previously wholly owned by Welltower. The properties are 100% affiliated with health systems and have a weighted average lease term of five years.
Through the joint venture, Welltower will keep a 15% economic interest in the portfolio.
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