Welltower Reports Revenue and Income Growth From Senior Housing Investments
By Mark Hallum July 28, 2026 11:46 am
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Welltower, an investment firm focused on senior and assisted living communities, reported continued balance sheet improvement in the second quarter of 2026.
In a Tuesday earnings call, the real estate investment trust (REIT) announced a slew of acquisitions, such as the Amica Senior Lifestyles portfolio consisting of 38 communities for $1.91 billion, as well as the disposition of $7.2 billion in outpatient medical properties.
On July 2, Welltower also closed on a deal to acquire five properties currently under development in Canada for about $459 million. Completion of those properties is expected in 2027.
Overall, the Ohio-based firm invested $9.5 billion in the U.S., Canada and the U.K. since the beginning of the year, Shankh Mitra, CEO of Welltower, said during the earnings call.
“As the Welltower business system continues to mature, our ability to increase cash flow following an acquisition has become both more significant and more repeatable,” Mitra said. “That distinction matters. Spread investing and cost of capital arbitrage are not value creation, nor are they durable investment strategies. Our focus is different. We seek to acquire assets at a fair price, based on a reasonable view of their prospective cash flows while retaining for our owners the upside we believe our platform can create beyond that.”
Funds from operations (FFO) in the second quarter reached $1.60 per share compared to $1.28 per share from the same period last year, while revenue for the quarter was $3.54 billion, an increase from the $2.55 billion recorded on a year-over-year basis.
Net income was $12.2 billion, compared to $10.6 billion in the second quarter of 2025.
Welltower also saw a 5.2 percent growth in revenue per occupied room, with the average number of occupied rooms in its portfolio at 100,410 compared to 96,800 on a year-over-year basis.
The REIT has been active in regions historically associated with the senior population following the $87.2 million purchase of an assisted living facility in Lake Worth, Fla., in April consisting of 377 units.
In March, Welltower also secured a $6.25 billion revolving credit facility to help retire $1.25 billion of existing debt and an option to increase its credit line by another $1.25 billion.
Mark Hallum can be reached at mhallum@commercialobserver.com.
