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Welltower Sells $1.3 Billion of Real Estate. What Does This Mean for Investors?

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While commercial real estate transactions have been down in 2020 with the uncertainty in the market, Welltower (NYSE: WELL), one of the major three real estate investment trusts (REITs) in the healthcare space, is turning heads with their recent announcement. The REIT has just announced a handful of dispositions that total $1.3 billion. Even for a REIT with a $23.41 billion market cap, that’s a lot of real estate. What will these transactions mean for investors moving forward?

What Welltower is selling

The selling off of these properties began in mid-September, when they sold a senior housing portfolio for $702 million. This portfolio was part of a joint venture with a company that managed the properties. Welltower owned 80% of this joint venture.

This deal definitely wasn’t a fire sale by any means. This sale represented a 5.1% cap rate. This sort of valuation is a good sign for the

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FOR SALE BY OWNER 

LSE Seals $5 Billion Borsa Sale to Euronext, Italian Banks

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(Bloomberg) — London Stock Exchange Group Plc agreed to sell Borsa Italiana to Euronext NV and two Italian lenders for more than 4.33 billion euros ($5.1 billion), in a deal that will create the largest listing venue in Europe.

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LSE, which is selling Borsa Italiana to get approval from the European Union for its $27 billion Refinitiv deal, announced the transaction in a statement Friday after exclusive talks between the parties started last month.

The London exchange will sell its entire shareholding for 4.3 billion euros in cash plus an unspecified additional amount reflecting the unit’s performance through to the deal’s completion. Euronext shares fell 3.6% in morning trading and LSE shares were up 0.7%. Bloomberg News first reported the agreement Thursday.

Read more: LSE nears $5 billion Borsa sale to Euronext, Italian banks

The deal removes a major hurdle to LSE’s blockbuster tie-up with Refinitiv, which is

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HOMES FOR SALE BY OWNER 

Dallas-based Invitation Homes forms new venture to buy up to $1 billion in rental homes

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Dallas-based Invitation Homes, the country’s largest rental home owner, is forming a joint venture with a private equity firm to buy up to $1 billion in single-family homes in Dallas, Seattle, South Florida and a dozen other U.S. markets.

Invitation Homes, which owns 80,000 homes, announced the venture with Rockpoint Group LLC on Wednesday. The companies will initially invest $375 million, with Rockpoint putting $300 million into the buying spree.

“We believe both the fundamentals in our sector and the need for high-quality rental housing in the U.S. are as strong as they have been in our company’s history,” said a statement from Invitation Homes CEO Dallas Tanner.

Single-family home rental companies grew out of the 2008 financial crisis, with Wall Street titans like Blackstone Group Inc. investing heavily in buying up distressed properties. Blackstone launched Invitation Homes but cashed out last year, netting billions in profit.

This year, Invitation

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FORECLOSURE HOMES 

America’s Largest Landlord Adds $1 Billion for Its House Hunt

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Real-estate investors have a mountain of money looking for a home. Lately a lot of it is ending up in suburban single-family houses.

Invitation Homes Inc., the country’s largest rental-home owner, on Wednesday disclosed a joint venture with Boston property investor Rockpoint Group LLC that will result in more than $1 billion for the landlord’s ongoing house hunt.

Invitation, which owns about 80,000 houses, has been buying at a clip of roughly $200 million a quarter since a pause at the onset of the coronavirus lockdown. It sold $448 million of new shares in June to fuel its expansion, and the agreement with Rockpoint will add enough cash to buy about 3,500 more homes, said Dallas Tanner, Invitation’s chief executive.

It is the latest example of cash flowing from large money managers to single-family-rental companies. Financiers created the companies a decade ago to buy foreclosed homes by the thousand following

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Nordic Asset Manager NREP Raises $2.2 Billion in Real Estate Bet

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Mortgage Banks And Residential Housing As Denmark Readies For Debt Refinancing

Photographer: Freya Ingrid Morales/Bloomberg

Photographer: Freya Ingrid Morales/Bloomberg

Nordic Real Estate Partners A/S, an alternative asset manager based in Copenhagen, has raised $2.2 billion for a new fund that will invest primarily in housing and care homes across Scandinavia.

NREP brought in a number of major pension funds, including New York State Common Retirement Fund, Los Angeles City Employees’ Retirement System (Lacers) and Denmark’s Industriens Pension, which oversees about $30 billion.

“In the current pandemic, Nordic real estate is attractive for global investors,” Chief Executive Officer Claus Mathisen said in an interview.

Mathisen says the region’s fabled welfare model, as well as its flexible labor market, make it stand out in a world struggling to handle the Covid crisis. According to the latest central bank estimates, Scandinavian economies will all contract less than 4% this year, compared with an 8% slump in the euro zone.

NREP is targeting returns

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HOMES 

Oregon wildfires burned $1 billion in homes and belongings last month, new tally finds

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Oregonians lost nearly $1 billion in homes and belongings during last month’s wildfires, which torched more than 4,000 residences and burned more than 1 million acres across the state, according to a new report.



a bench in front of a fence: Wildfire damage in Gates, Oregon off Highway 22 in Marion County on Monday, Sept. 21, 2020. Wildfires ripped through the small town of less than 500 people a little over a week ago, destroying many homes and businesses. Sean Meagher/Staff

© Sean Meagher/The Oregonian/oregonlive.com/TNS
Wildfire damage in Gates, Oregon off Highway 22 in Marion County on Monday, Sept. 21, 2020. Wildfires ripped through the small town of less than 500 people a little over a week ago, destroying many homes and businesses. Sean Meagher/Staff

It’s among the first efforts to calculate the economic toll of the fires, which also killed at least nine people last month.

Josh Lehner of the Oregon Office of Economic Analysis said the homes and personal property destroyed are only the initial calculation of what the state lost. The wildfires damaged the state’s outdoor recreation industry, its timber sector and the state’s image as a healthy, active place to live – and

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FOR SALE BY OWNER 

Burger King China Owner Weighs Sale of $1.2 Billion Unit

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(Bloomberg) — TAB Food Investments, the largest global franchisee of Restaurant Brands International Inc., is exploring a sale of its China business in a deal that would value the asset at more than $1.2 billion, people with knowledge of the matter said.



a group of people standing in front of a sign: Men walk past a Burger King Worldwide Inc. store in the Luohu district of Shenzhen, China, on Thursday, Dec. 19, 2013.

© Bloomberg
Men walk past a Burger King Worldwide Inc. store in the Luohu district of Shenzhen, China, on Thursday, Dec. 19, 2013.

TAB Foods, or TFI, is working with an adviser to gauge interest for its 50% stake in Burger King’s Chinese operations from potential suitors including private equity firms, the people said. A sale could kick off as soon as next month, the people said, asking not to be identified as the information is private.

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The Istanbul-based TFI previously considered a Hong Kong initial public offering of the Chinese business after earlier scrapping plans for a U.S. share sale of its global operations, people

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