Welltower Inc. announced that they have entered into a definitive agreement under which Welltower will acquire a Class A medical office and outpatient facilities portfolio comprised of 55 buildings from CNL Healthcare Properties for $1.25 billion. The sale is expected to close during the first half of 2019, subject to customary closing conditions, governmental and other third-party consents. Welltower will be acquiring 55 assets out of the 63 properties (medical office buildings, post-acute care facilities and specialty hospitals) initially marketed by CNL Healthcare Properties through its strategic financial advisors. The 55 properties have a current occupancy of 94% and average annual rent increases of 2.4%. The properties are strategically located and 92% are affiliated with some of the nation's premier health systems including Novant (Moody's: A1), Memorial Hermann (Moody's: A1) and Cleveland Clinic (Moody's: Aa2). With 3.3 million rentable square feet in major metropolitan markets across 16 states, the acquisition portfolio will have significant overlap and synergies with Welltower's existing outpatient medical footprint.