Senior Housing News April 30, 2024
Welltower (NYSE: WELL) continued to make margin and occupancy progress in the first quarter of 2024, with a high appetite for new investments in the remainder of this year.
Among the brightest spots for the Toledo, Ohio-based real estate investment trust (REIT) was its senior housing operating portfolio (SHOP), which includes 994 properties. The company reported 25.5% net operating income (NOI) growth in the first quarter for its same-store SHOP segment, driving total portfolio same-store NOI growth of 12.9% during that time.
The company is seeing the “strongest growth we have seen in our history,” other than in the first quarter of 2022, when the company’s operating partners were still recovering from the earliest days of the Covid-19 pandemic, according...
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