{"id":520211,"date":"2021-07-29T16:04:58","date_gmt":"2021-07-29T20:04:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/"},"modified":"2021-07-29T16:04:58","modified_gmt":"2021-07-29T20:04:58","slug":"welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/","title":{"rendered":"Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">TOLEDO, Ohio<\/span>, <span class=\"xn-chron\">July 29, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Welltower<span><sup>\u00ae<\/sup><\/span> Inc.\u00a0(NYSE: WELL) today announced the expansion of its relationship with Oakmont Management Group (&#8220;Oakmont&#8221;). Through the acquisition of new management contracts, the partnership is expected to roughly double the size of Welltower and Oakmont&#8217;s existing portfolio by the end of the third quarter in affluent markets across <span class=\"xn-location\">California<\/span>. <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1584474\/Ivy_Park_at_Otay_Ranch.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1584474\/Ivy_Park_at_Otay_Ranch.jpg\" title=\"Ivy Park at Otay Ranch\" alt=\"Ivy Park at Otay Ranch\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>Welltower has also signed a long-term exclusive development agreement with Oakmont. Through this agreement, both organizations will invest significant capital and resources to build, own and operate Class A communities to serve the seniors housing resident of the future, with a focus on highly specialized programming and resident health and wellness. Oakmont and Welltower expect to grow the partnership&#8217;s footprint significantly over the next decade. The partnership will leverage Welltower&#8217;s data analytics platform and innovative access to health and wellness partners and Oakmont&#8217;s best in class operating platform. Additionally, the two companies have agreed to a strongly aligned RIDEA 3.0 management contract.<\/p>\n<p>In a recently completed transaction, Oakmont and Welltower acquired <span class=\"xn-person\">Ivy Park<\/span> at Otay Ranch, an assisted living and memory care community in <span class=\"xn-location\">San Diego, California<\/span>. <span class=\"xn-person\">Ivy Park<\/span> is the first of Oakmont&#8217;s new brand, Ivy Living, which builds upon decades of operational excellence providing Oakmont the flexibility to pursue opportunities that have a different built environment.\u00a0 <\/p>\n<p>&#8220;Oakmont Management Group is thrilled to be in this long-term partnership with Welltower and we firmly believe that our operating acumen combined with Welltower&#8217;s significant edge in data analytics will create a formidable team,&#8221; said <span class=\"xn-person\">Courtney Siegel<\/span>, Oakmont President and CEO. &#8220;Welltower is a partner of choice in the seniors housing sector and we look forward to expanding our relationship in the years to come.&#8221;<\/p>\n<p>&#8220;We are delighted to announce the expansion of our partnership with Courtney and the Oakmont Management Group team through this exclusive agreement,&#8221; said Shankh Mitra, Welltower&#8217;s CEO and CIO. &#8220;Oakmont is one of Welltower&#8217;s strongest performing operating partners. Courtney and her team are not only best in class operators but are also true partners. I could not be more excited to significantly grow our relationship through acquisition and development in <span class=\"xn-location\">California<\/span> and other western states over the next decade.&#8221;<\/p>\n<p>\n        <b>Forward Looking Statement<\/b>\n      <\/p>\n<p>This press release may contain &#8220;forward-looking&#8221; statements as defined in the Private Securities Litigation Reform Act of 1995. When\u00a0Welltower\u00a0uses words such as &#8220;may,&#8221; &#8220;will,&#8221; &#8220;intend,&#8221; &#8220;should,&#8221; &#8220;believe,&#8221; &#8220;expect,&#8221; &#8220;anticipate,&#8221; &#8220;project,&#8221; &#8220;estimate&#8221; 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\u00a0Welltower&#8217;s\u00a0actual results to differ materially from\u00a0Welltower&#8217;s\u00a0expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to, those factors discussed in\u00a0Welltower&#8217;s\u00a0reports filed from time to time with the\u00a0SEC.\u00a0Welltower\u00a0undertakes 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.<\/p>\n<p>\n        <b>About\u00a0Welltower<\/b>\n      <\/p>\n<p>Welltower<span><sup>\u00ae<\/sup><\/span>\u00a0Inc.\u00a0(NYSE: WELL), an\u00a0S&amp;P\u00a0500 company headquartered in\u00a0Toledo,\u00a0Ohio, 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 and infrastructure needed to scale innovative care delivery models and improve people&#8217;s wellness and overall health care experience.\u00a0Welltower, a real estate investment trust (&#8220;REIT&#8221;), owns interests in properties concentrated in major, high-growth markets in\u00a0the United States,\u00a0Canada\u00a0and the\u00a0United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. More information is available at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3243752-1&amp;h=1411823199&amp;u=https%3A%2F%2Fc212.net%2Fc%2Flink%2F%3Ft%3D0%26l%3Den%26o%3D3228037-1%26h%3D3353685274%26u%3Dhttps%253A%252F%252Fc212.net%252Fc%252Flink%252F%253Ft%253D0%2526l%253Den%2526o%253D3126392-1%2526h%253D1536915435%2526u%253Dhttps%25253A%25252F%25252Fc212.net%25252Fc%25252Flink%25252F%25253Ft%25253D0%252526l%25253Den%252526o%25253D2863992-1%252526h%25253D114487664%252526u%25253Dhttps%2525253A%2525252F%2525252Fc212.net%2525252Fc%2525252Flink%2525252F%2525253Ft%2525253D0%25252526l%2525253Den%25252526o%2525253D2860372-1%25252526h%2525253D1250254561%25252526u%2525253Dhttps%252525253A%252525252F%252525252Fc212.net%252525252Fc%252525252Flink%252525252F%252525253Ft%252525253D0%2525252526l%252525253Den%2525252526o%252525253D2497010-1%2525252526h%252525253D3520318736%2525252526u%252525253Dhttp%25252525253A%25252525252F%25252525252Fwww.welltower.com%25252525252F%2525252526a%252525253Dwww.welltower.com%25252526a%2525253Dwww.welltower.com%252526a%25253Dwww.welltower.com%2526a%253Dwww.welltower.com%26a%3Dwww.welltower.com&amp;a=www.welltower.com\" rel=\"nofollow noopener\">www.welltower.com<\/a>.<\/p>\n<p>\n        <b>About Oakmont Management Group<\/b>\n      <\/p>\n<p>Oakmont Management Group, based in <span class=\"xn-location\">Irvine California<\/span>, is a recognized leader in the senior living industry that manages a portfolio of communities under the Oakmont Senior Living and Ivy Living brand. Oakmont currently serves over 4,000 seniors across 40 communities in <span class=\"xn-location\">California<\/span> and <span class=\"xn-location\">Nevada<\/span> with an additional 5 communities set to open in the coming year. Residents receive customized care services delivered in luxurious, resort-style settings. With an impressive array of high-quality amenities and compassionate team members, residents at Oakmont benefit from the finest senior living experience in the industry. For more information about Oakmont, visit\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3243752-1&amp;h=3705014368&amp;u=http%3A%2F%2Foakmontseniorliving.com%2F&amp;a=www.oakmontseniorliving.com\" rel=\"nofollow noopener\">www.oakmontseniorliving.com<\/a><\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1584476\/OMG.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1584476\/OMG.jpg\" title=\"Oakmont Management Group\" alt=\"Oakmont Management Group\" \/><br \/>\n          <\/a>\n        <\/p>\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/469939\/Welltower_Logo_Pantone_NoTM.html\" target=\"_blank\" rel=\"nofollow noopener\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/469939\/Welltower_Logo_Pantone_NoTM.jpg\" title=\"Welltower Logo\" alt=\"Welltower Logo\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CL59148&amp;sd=2021-07-29\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"https:\/\/www.prnewswire.com\/news-releases\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership-301344561.html\">https:\/\/www.prnewswire.com\/news-releases\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership-301344561.html<\/a><\/p>\n<p>SOURCE  Welltower Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CL59148&amp;Transmission_Id=202107291601PR_NEWS_USPR_____CL59148&amp;DateId=20210729\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire TOLEDO, Ohio, July 29, 2021 \/PRNewswire\/ &#8212;\u00a0Welltower\u00ae Inc.\u00a0(NYSE: WELL) today announced the expansion of its relationship with Oakmont Management Group (&#8220;Oakmont&#8221;). Through the acquisition of new management contracts, the partnership is expected to roughly double the size of Welltower and Oakmont&#8217;s existing portfolio by the end of the third quarter in affluent markets across California. Welltower has also signed a long-term exclusive development agreement with Oakmont. Through this agreement, both organizations will invest significant capital and resources to build, own and operate Class A communities to serve the seniors housing resident of the future, with a focus on highly specialized programming and resident health and wellness. Oakmont and Welltower expect to grow the partnership&#8217;s footprint significantly over the &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-520211","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire TOLEDO, Ohio, July 29, 2021 \/PRNewswire\/ &#8212;\u00a0Welltower\u00ae Inc.\u00a0(NYSE: WELL) today announced the expansion of its relationship with Oakmont Management Group (&#8220;Oakmont&#8221;). Through the acquisition of new management contracts, the partnership is expected to roughly double the size of Welltower and Oakmont&#8217;s existing portfolio by the end of the third quarter in affluent markets across California. Welltower has also signed a long-term exclusive development agreement with Oakmont. Through this agreement, both organizations will invest significant capital and resources to build, own and operate Class A communities to serve the seniors housing resident of the future, with a focus on highly specialized programming and resident health and wellness. 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Through the acquisition of new management contracts, the partnership is expected to roughly double the size of Welltower and Oakmont&#8217;s existing portfolio by the end of the third quarter in affluent markets across California. Welltower has also signed a long-term exclusive development agreement with Oakmont. Through this agreement, both organizations will invest significant capital and resources to build, own and operate Class A communities to serve the seniors housing resident of the future, with a focus on highly specialized programming and resident health and wellness. Oakmont and Welltower expect to grow the partnership&#8217;s footprint significantly over the &hellip; Continue reading \"Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/","og_site_name":"Market Newsdesk","article_published_time":"2021-07-29T20:04:58+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1584474\/Ivy_Park_at_Otay_Ranch.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership","datePublished":"2021-07-29T20:04:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/"},"wordCount":732,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/#primaryimage"},"thumbnailUrl":"https:\/\/mma.prnewswire.com\/media\/1584474\/Ivy_Park_at_Otay_Ranch.jpg","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/welltower-and-oakmont-management-group-announce-strategic-joint-venture-partnership\/","name":"Welltower and Oakmont Management Group Announce Strategic Joint Venture Partnership - 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