BRIEF: Welltower completes sale of 28 facilities

Dec. 30--Welltower Inc., a Toledo real estate investment trust, announced Thursday that it completed the sale of 28 long- term/post-acute care facilities leased by Genesis Healthcare to a joint venture involving Welltower, China-based Cindat Capital Management , and Union Life Insurance Co .

Cindat and Union Life will own 75 percent of the joint venture and Welltower 25 percent.

Welltower also said it expects to complete the sale of 11 Brookdale senior housing properties to the joint venture by the end of March, at which point the joint venture will have a value of $930 million. Genesis will continue to operate the 28 facilities it had been leasing.

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