TOLEDO, Ohio, June 10, 2021 /PRNewswire/ -- Welltower®
Inc. (NYSE: WELL) today announced the formation of a new
relationship with Monarch Communities ("Monarch"), a
vertically integrated senior living provider with expertise in
development, design-build, management and long-term ownership.
Monarch is a new brand founded by industry veterans Michael Glynn, Ross
Dingman, and Andrew Teeters,
who have decades of senior living experience.
The company was formed in 2019 based on the idea that the
wellness of all community members— residents, their families, and
Monarch team members—can be enhanced through superior design,
technology, and people. This new relationship is focused on
developing, re-developing, and managing next-generation integrated
independent and assisted living communities. Monarch creates an
environment that enables residents to enjoy an empowered, active,
and engaged life with a focus on health and wellness for body and
mind. Welltower's investment in Monarch will give Welltower
exclusive access to Monarch's expertise in developing and operating
senior living communities in premium micro markets throughout
the United States.
"Monarch is an ideal fit to our long-term vision in senior
living," said Shankh Mitra, Welltower's Chief
Executive Officer. "Monarch's turnkey business model will create a
vertically integrated solution for all aspects of the senior living
space—from sourcing opportunities, to design and construction, to
operations and long-term ownership. We are excited to be partnering
with Michael, Andrew and Ross and supporting their dynamic paradigm
for the future of senior living."
"Welltower is the leading platform in senior living with
unique capabilities including its best-in-class analytics platform,
a true partnership-oriented culture, and long-term capital
solutions," said Michael Glynn,
Monarch's Managing Partner. "We are thrilled to partner with
Welltower to advance the quality of housing and care options for
seniors. We are energized by this partnership, which allows us to
deliver our brand of wellness to more communities, seniors, and
their families."
The partnership is breaking ground this month on its inaugural
senior housing development, Monarch Cooper's Corner, located in
New Rochelle, New York. Welltower
and Monarch are also working together to reposition several
Welltower communities in the Mid-Atlantic and Northeast
regions.
Forward-Looking Statements
This press release may
contain "forward-looking" statements as defined in the Private
Securities Litigation Reform Act of 1995.
When Welltower uses words such as "may," "will,"
"intend," "should," "believe," "expect," "anticipate," "project,"
"estimate" or similar expressions that do not relate solely to
historical matters, it is making forward-looking statements.
Forward-looking statements are not guarantees of future performance
and involve risks and uncertainties that may
cause Welltower's actual results to differ materially
from Welltower's expectations discussed in the
forward-looking statements. This may be a result of various
factors, including, but not limited to, those factors discussed
in Welltower's reports filed from time to time with
the SEC. Welltower undertakes no obligation to
update or revise publicly any forward-looking statements, whether
because of new information, future events or otherwise, or to
update the reasons why actual results could differ from those
projected in any forward-looking statements.
About Welltower
Welltower® Inc. (NYSE:WELL),
an S&P 500 company headquartered
in Toledo, Ohio, is driving the transformation of health
care infrastructure. The Company invests with leading seniors
housing operators, post-acute providers and health systems to fund
the real estate infrastructure needed to scale innovative care
delivery models and improve people's wellness and overall health
care experience. Welltower, a real estate investment trust (REIT),
owns interests in properties concentrated in major, high growth
markets in the United States, Canada and
the United Kingdom, consisting of seniors housing, post-acute
communities and outpatient medical properties. For more
information, visit www.welltower.com.
About Monarch Communities
Monarch Communities
develops, operates, design-builds (with its affiliate, PROCON) and
owns senior living communities. Monarch strives to enhance the
wellness of team members, residents and their families through
leadership in design, technology and operations. The Company
has offices in New York,
New Hampshire, and Maryland and was founded in 2019. For more
information, visit www.monarchcommunities.com.
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SOURCE Welltower Inc.