Driving the Future of Health Care Real Estate
Welltower at a Glance Welltower is redefining the settings where healthcare services will be delivered in the future 1,676 ~19,965,000 ~321,000 OUTPATIENT TOTAL HEALTH CARE RESIDENTS (2) MEDICAL VISITS (2) PROPERTIES (1) Fitch NYSE S&P S&P Moody’s Dow Jones World $45B Baa1 BBB+ BBB+ Symbol: Sustainability WELL 500 Enterprise Value (3) Index Stable Stable Stable 1. 4Q18 pro-forma for CNL acquisition. 2. Based on internal estimates derived from trailing twelve-month facility level data as of 12/31/2018, and includes CNL acquisition. 2 3. Source: Bloomberg as of 1/31/2019.
Health Care Real Estate Landscape $ LOWER AVERAGE COST HIGHER AVERAGE COST $ ACUTE CARE POST-ACUTE CARE CONTINUUM SENIOR HOUSING Long-Term Hospital Skilled Nursing Inpatient Memory Assisted Independent Care Hospital Rehab Facility (LTC) Care Living Living HOME OUTPATIENT / MEDICAL OFFICE BUILDING 3
U.S. Seniors Housing Portfolio | Major Urban Market Focus 97 % (1) 661 $17.1B (2) (2) SH Operating NOI in Seniors Housing Gross Real Estate Top 31 MSAs + Facilities Investments Coastal States 66,470 units TOP US MARKETS (1) (% OF US SH OPERATING NOI) Los Angeles 14.5% New York 12.1% Boston 8.3% San Francisco 5.3% Washington, D.C. 3.9% San Diego 3.7% Seattle 3.5% Dallas 2.9% Philadelphia 2.9% Chicago 2.8% 4 1. Data as of 12/31/2018. NOI data based on In-Place US SH Operating NOI. Please see Supplemental Reporting Measures for reconciliations at the end of this presentation. 2. Data as of 12/31/2018. Comprises Seniors Housing Triple-Net and Seniors Housing Operating properties.
Canadian Portfolio | Urban, High Barrier to Entry Markets CN 78 % (1) SH Operating NOI in Top 10 Canadian MSAs 151 (2) 75+ POPULATION (3) Facilities 5.5 6 5 4.0 $2.9B (in millions) 4 (2) Population 2.7 3 2 Gross Real Estate 1 Investments 0 2018 2028 2038 1. Data as of 12/31/2018. NOI data based on In-Place Canadian SH Operating NOI. Please see Supplemental Reporting Measures for reconciliations at the end of this presentation. 5 2. Comprises Seniors Housing Triple-Net and Seniors Housing Operating properties as of 12/31/2018. 3. Source: Statistics Canada.
UK Portfolio | Urban, High Barrier to Entry Markets 88 % (1) 111 $2.8B (2) (2) UK SH Operating NOI in Facilities Gross Real Estate Greater London & Investments Southern England Manchester (3) 75+ POPULATION Birmingham 15 POPULATION (in millions) 9.6 10 7.7 5.6 London 5 0 2018 2028 2038 1. Data as of 12/31/2018. NOI data based on In-Place UK SH Operating NOI. Please see Supplemental Reporting Measures for reconciliations at the end of this presentation. 6 2. Comprises Seniors Housing Triple-Net and Seniors Housing Operating properties as of 12/31/2018. 3. Source: Office for National Statistics.
Forward Looking Statements This document contains “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995. When we use words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “pro forma,” “estimate” or similar expressions that do not relate solely to historical matters, we are making forward-looking statements. In particular, these forward-looking statements include, but are not limited to, those relating our company’s opportunities to acquire, develop or sell properties; our ability to close anticipated acquisitions, investments or dispositions on currently anticipated terms, or within currently anticipated timeframes; the expected performance of our operators/tenants and properties; our expected occupancy rates; our ability to declare and to make distributions to stockholders; our investment and financing opportunities and plans; our continued qualification as a real estate investment trust (“REIT”); our ability to access capital markets or other sources of funds; and our ability to meet our earnings guidance. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause our actual results to differ materially from our expectations discussed in the forward-looking statements. This may be a result of various factors, including, but not limited to: the status of the economy; the status of capital markets, including availability and cost of capital; issues facing the health care industry, including compliance with, and changes to, regulations and payment policies, responding to government investigations and punitive settlements and operators’/tenants’ difficulty in cost-effectively obtaining and maintaining adequate liability and other insurance; changes in financing terms; competition within the health care and seniors housing industries; negative developments in the operating results or financial condition of operators/tenants, including, but not limited to, their ability to pay rent and repay loans; our ability to transition or sell properties with profitable results; the failure to make new investments or acquisitions as and when anticipated; natural disasters and other acts of God affecting our properties; our ability to re-lease space at similar rates as vacancies occur; our ability to timely reinvest sale proceeds at similar rates to assets sold; operator/tenant or joint venture partner bankruptcies or insolvencies; the cooperation of joint venture partners; government regulations affecting Medicare and Medicaid reimbursement rates and operational requirements; liability or contract claims by or against operators/tenants; unanticipated difficulties and/or expenditures relating to future investments or acquisitions; environmental laws affecting our properties; changes in rules or practices governing our financial reporting; the movement of U.S. and foreign currency exchange rates; our ability to maintain its qualification as a REIT; key management personnel recruitment and retention; and other risks described in our reports filed from time to time with the Securities and Exchange Commission. Finally, we assume no obligation to update or revise 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. 7
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